NZDJPY recently reversed up sharply from the support area lying between the round support level 70.000 (former monthly high from November which previously formed two consecutive reversal patterns Morning Star) and the lower daily Bollinger Band. The upward reversal from this support area started the active impulse wave (3). Given the strong bearish sentiment affecting Japanese Yen at the moment, NZDJPY is likely to remain under the bullish pressure and to rise toward the next resistance level 71.000 (top of the previous medium-term impulse wave.