NZDJPY is continuing its rise in a Bullish Trend Channel before tomorrow’s RBNZ decision. For some time, economic data New Zealand is a lot better than expected. The economy is in a fast recovery period which is supporting the NZD against JPY.
Tomorrow, the Reserve Bank of New Zealand, probably won’t change the current policy setting and acknowledge recent economic performance which may not change the current direction of NZDJPY. 77.00 – 76.20 can be followed as support until the meeting. But overall as long as the price stays in the bullish trend channel, the upward move will continue.