NZD/JPY Technical Analysis: Bullish flag/channel/Ichimoku Cloud all point to 76.90 target

• Ahead of the RBNZ, the cross has been forming a bullish hourly flag within an ascending channel and bullish Ichimuko Cloud formation, while trading between the 61.8% Fibo and 78.6% Fibo of 20-24th March range. 
• On a break to the upside, put of the flag formation, a continuation of the upside would be expected of the length of the flag pole, around 50 pips, fro the break-up point of the flag, 76.90 target. 
• However, first stop could come at the top of the eclipse and daily trend line resistance around 76.70, that's if the 78.6% fibo doesn't hold up the bulls first, located at the flags highest point of 76.49. 
• To the downside, bears can target the cloud support and 38.2% fibo confluence of same range, meeting the prior lows, making an area od between 75.93/96.
• First, bears will need to break the 61.8% Fibo at 76.27 and then the 50% Fibo at 76.11. 

NZD/JPY hourly chart