The New Zealand Dollar has declined by 1.69% against the Japanese Yen since the beginning of October. The currency pair tested the lower boundary of an ascending channel pattern at 69.26 on October 20.
The exchange rate bounced off the lower line of the channel pattern during this week’s trading sessions. Most likely, the NZD/JPY pair could edge higher in the next few days.
However, a resistance level at the 70.50 level could provide resistance for the currency exchange rate in the shorter term.
