The NZDJPY is back at key resistance.

The NZDJPY is back on our radar. Back on June 16th, the pair was our Chart of the Day, and we were looking for a possible break below the trend line. It did happen and we managed to see a big 2.4% lower, but have recovered. The pair is back testing the underside of the trend line and the 50dma. Resistance overnight could be at the 78.67 level which may offer strong resistance near term. For aggressive short players, a good risk reward short back below the 77.00 level may be a setup.