Daily chart of NZDJPY is pointing on upward trend. Evidence of this is sequence of increasing higher peaks and lows. An additional confirmation are average EMA (75-, 100- periodic), which are directed upwards. We can notice that after setting a new higher peak price fell in the vicinity of strong support at 80.50. Confluence for this area are ascending band of averages and correction one to one. We should look at the graph on the lower time frame.
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Price on H4 shows easing of declines. It is worth noting that the lows are getting shallower, bearish candles have long wicks, and bullish close near their highs. Setting a higher peak will probably result in increased response from the bulls. Strong resistance is located at the round at 82.50.
