Chart Of The Day: NZD/JPY

The NZD/JPY rally had been hugging the underside of the broken trend line since mid-February as we bounced. However, the failure to close above the broken trendline may be at risk for the bulls now that we rejected the 127% extension and also closed back below the 75.54 breakout point. RSI has been very pergent on the rally and now looks to be turning lower. Bulls should be careful now. 

NNZD/JPY Daily Chart.

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