The New Zealand Dollar has surged by 2.15% against the Japanese Yen since March 1. The NZD/JPY currency pair breached the 78.00 level during this week’s trading sessions.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could continue to edge higher during the following trading sessions.
However, the weekly resistance level at 78.77 could provide resistance for the currency exchange rate in the shorter term.