Since March 20, the New Zealand Dollar has surged by 8.56% against the Japanese Yen. The currency pair breached the 50– and 100– period SMAs during this week’s trading sessions.
The exchange rate is currently trading near the 200– period simple moving average resistance level at 65.73.
If the NZD/JPY pair breaks the 200– period SMA, bulls could continue to pressure the price higher during the following trading sessions.
However, if the resistance level holds, a decline towards the 62.00 area could be expected in the nearest future.
