NZD/JPY increased again after the most recent decline and now it stands below a critical resistance. A valid breakout above this area could signal further growth ahead.
The Yen is bearish after the BOJ. As you already know, the central bank has maintained its monetary policy, reaffirming that it could take action if needed. The dovish speech could force the Yen to decline in the coming period.
The pair has decreased a little to retest the median line (ML) of the ascending pitchfork before jumping higher. It’s pressuring the 78.263 static resistance. A valid breakout above it and through the upside sliding line (SL) could indicate more gains.
Actually, a new higher high, a bullish closure above 78.379 may indicate a strong upside momentum towards the ascending pitchfork’s upper median line (UML).
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