The New Zealand Dollar has surged by 2.13% against the Japanese Yen since the beginning of January. The NZD/JPY currency pair breached the 75.50 level on January 11.
Everything being equal, the exchange rate could continue to trend bullish during next week’s trading sessions. The potential target for bullish traders would be near the 76.50 area.
However, given that the currency exchange rate is currently trading near the lower of an ascending channel pattern, a breakout could occur during the following trading sessions.