Since October's high, NzdJpy has started a downtrend, at least in the medium term and after finding support in the 76 zone, the pair rebounded and has started to trade in a range. Now we are in the resistance zone of this range, and a fall could follow. A rise above 78.70 would negate this scenario and bears can have as target 75 zone Also, a drop under 76 would confirm an H&S, and the long term target for this pattern is 70