Buy and sell indicators for trade on the chart by Anekcen Eeno3epcknn via iStock
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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