The New Zealand Dollar has declined by 3.55% against the Japanese Yen since last week’s trading sessions. The currency pair tested the lower boundary of an ascending channel pattern at 63.74 on April 21.
Given that the exchange rate is currently trading near the bottom border of the ascending channel pattern, a breakout might occur during the following trading sessions.
However, if the channel pattern holds, bullish traders could drive the price towards the 67.15 area within this week’s trading sessions.
