NZD/JPY eyes bullish wave (5) as corrective pullback looks completed

Gregor Horvat Wavetraders

NZDJPY has declined over the past few weeks, but the structure still appears corrective rather than impulsive. The recent weakness can be interpreted as a sharp three-wave pullback, potentially representing wave (4) within a larger five-wave bullish impulse.

If this wave count is correct, the pair could soon resume its uptrend in wave (5). The first upside target comes into the 96.00–97.00 resistance area, while a stronger extension could see NZDJPY rally toward the 99.00 region before the broader impulsive sequence is complete.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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