NZD/JPY is fluctuating around its resistance level and has formed an ascending triangle on 30M chart. The pattern started on March 9 and has a 50% quality along with a 48% magnitude within 171 bars.
New Zealand Dollar has strengthened against Yen during last few months and is now trading around 68.13. Current resistance level stands around seven-month high at 68.28, where pair previously rebounded. RSI indicator is growing, but does not give any definite signals yet. If pair breaks the resistance level at 68.28, first target for long traders can be around 68.50.
Stochastic indicator is consolidating near its critical level which may increase the possibility of a trend change. If pair slides down from the resistance level at 68.28 traders can wait for the price depreciation to 67.78. If price breaks the support level at 67.78 initial bearish target may be around 67.13