NZDJPY continues to after the earlier breakout of the key resistance level 70.40 (which is the upper boundary of the narrow sideways price range inside which the pair has been trading from September). The breakout of the resistance level 70.40 accelerated the active short-term impulse wave 3 – which is a part of longer-term impulse wave (3) from September. Given the powerful bearish Yen sentiment and the strength of the daily uptrend, NZDJPY is likely to rise further toward the next resistance level 72.00 (forecast price calculated for the completion of the active impulse wave 3).