NZD/JPY pair has been beginning its downtrend from the last week and made a stop to its uptrend continuation since from the last month. It is clearly viewed from the market that the JPY is ruling with the most currencies. From the mid of June and the entire July are noted as its uptrend and provided around 540+ pips.
The downtrend had begun on last Friday itself and still continues its downtrend to reach a good support. The notable resistance 80.385 had achieved on last week after a month. So, it is hard to achieve it back soon.
This week market begins at 79.108 and remains towards downtrend. It is believed to keep moving towards down until it finds its good support.
By the variation in the news releases, it is somehow hard to predict. But, it is predicted to hit the point of 78.166 within two day. If this support point hits, we could gain 70+ pips.