NZDJPY has been on an uptrend over the last couple of months, moving up through a price channel. Price, then made it to a key resistance area, at which point it turned around and came back to the bottom of the trendline. Thereafter, price fluctuated off of the bottom trendline and a new downward trending line formed a bullish pennant, signaling a further move up. We anticipate price to break through the recent resistance level and continue upwards to the next level of major support. The SL was placed between the previous two levels of major support because price will not break to a bearish movement unless these levels are breached.