NZD/JPY now breaking out on the daily chart

FX:NZDJPY   New Zealand Dollar / Japanese Yen
The New Zealand dollar is following a similar path to the GBP/JPY , with the currency now starting to rise strongly on the daily currency strength indicator ( the grey line) and now crossing the Japanese yen ( the magenta line).

Friday’s price action has helped to propel the NZD/JPY pair towards the key 75.00 level, and closing the week at 74.91 and with a strong platform of support now in place, this yen pair also looks set to develop further bullish momentum. This is also confirmed on the trend monitor indicator which has now made the transition from bright red to bright blue following the flash crash, with a move to test the strong resistance in the 77 region now looking likely.
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