TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

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

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

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.

NZDJPYd
NZDJPY Daily Chart

For more analysis like this, you can watch below our latest recording of a live webinat streamed on July 13:

Youtube preview

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Gregor Horvat

Wavetraders

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

More from Gregor Horvat
Share:

Editor's Picks

Bitcoin hits $85,000 as rally gains momentum, but liquidity risks linger

Bitcoin hits $85,000 as rally gains momentum, but liquidity risks linger

Bitcoin claims the $85,000 level on Monday after gaining 5.64% and closing above the 50-week SMA at $78,200 the previous week. US-listed spot Bitcoin ETFs recorded mild $6.21 million inflows last week, showing resilience despite the CLARITY Act setback and hawkish Fed outlook.

Ripple extends rally toward $1.50 as derivatives activity rises despite ETF outflows

Ripple extends rally toward $1.50 as derivatives activity rises despite ETF outflows

Ripple (XRP) holds a strong bullish picture, rising to trade near $1.50 on Monday. The remittance token marks four consecutive days of gains, supported by robust momentum indicators and increased risk appetite in the broader cryptocurrency market.

Crypto Today: Bitcoin, Ethereum, XRP hold bullish outlook amid improving ETF inflows

Crypto Today: Bitcoin, Ethereum, XRP hold bullish outlook amid improving ETF inflows

Cryptocurrencies are broadly rising on Monday, led by Bitcoin’s (BTC) surge to $85,000. Altcoins are following BTC’s bullish trend, with Ethereum (ETH) trading above $2,700 and Ripple (XRP) holding steady at $1.47.

Pi Network rebound gains steam on broader market recovery

Pi Network rebound gains steam on broader market recovery

Pi Network is up 4% on Monday, advancing its near-term recovery after a 2% rebound the previous day. The broader cryptocurrency market's recovery, with Bitcoin hitting an eight-month high of $85,000, is boosting investors’ risk appetite for high-risk crypto assets like the PI token.

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.