The NZDJPY has a bullish wedge setup.

Clearly a bullish wedge is developing on the daily charts, whi8ch means we are more prone to breaking higher, but not obligated to. With consistent highs at 70.00 and support at 69.50 a breakout may be looming soon. A move above the 70.00 level will put the longer term 61.8% Fibonacci retracement at 70.61 it its sights.

Blake Morrow