Last week’s strengthening of NZDJPY caused successful break of resistance which was set by trend line led from December’s high.
What is important, appreciation happened after rebound from key support at 74.50 which is also very close to long term bullish trend led from 2009 low.
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If bulls manage to keep control on this market, there is high probability that another buy offers will lead price to key resistance in 79.40 area which also covers bearish trend line lasting since April 2015. In this place we can expect bears attack and those who want to sell at better prices. If NZDJPY will not be increasing, we can expect going back to support at 74.50 and next test of this level.
