NAB discusses NZD/JPY technical outlook and maintains a neutral bias in the near-term.
"Price has held a MT downtrend structure of lower highs / lower lows since mid-2017. A break above the Q4 2018 high at 78.86 is required to break the MT downtrend structure," NAB notes.
"A weekly close above 78.86 will be a strong bullish confirmation as it will also break above the 100- and 200-week MA’s and weekly Bollinger band. Weekly closes have held above the 50-week MA (now 75.45) for four weeks. A weekly close below 75.45 will highlight a failing interim uptrend," NAB adds.