The New Zealand Dollar has risen 227 points or 3.30% against the Japanese yen since last week’s trading sessions. An eruption occurred through the upper limit of a declining channel pattern on 26 August.
Given that a split had occurred, the NZD / JPY exchange rate could continue to rise higher in the following trading sessions. The potential target will be at the 72.00 level.
However, the exchange rate is expected to make a short withdrawal against the SMA 200– period at 70.05 in the short term.