NZDJPY continues to move in a bullish trend channel. Relative momentum is still rising and shows no sign of weakness. 79.68 may constrain further up moves for now but any down move is a possible buying opportunity as long as the price stays above the lower line of the channel. Not much of data coming from New Zealand and Japan this week, not having key incoming news will support the idea of price swinging in the channel.
Below 77.71 can be a dangerous zone for NZD bulls because the ending of a 6+ months of trend may cause sharp falls.
