NZDJPY looks to be in a quite healthy trend at the moment.
With the daily candles closing quite bullish, I believe we may still have a bit of an upside to see.
We may very well be in a current Elliot Wave with this wave being the corrective wave number 4.
A retracement to the .236 - .382 fib level would be nice to see & it could make for a nice R/R ratio, targeting the .786 - 1-1 fib extension as for our 5th wave.
Should price break the .382 fib level, this EW probably may not be valid.
With the daily candles closing quite bullish, I believe we may still have a bit of an upside to see.
We may very well be in a current Elliot Wave with this wave being the corrective wave number 4.
A retracement to the .236 - .382 fib level would be nice to see & it could make for a nice R/R ratio, targeting the .786 - 1-1 fib extension as for our 5th wave.
Should price break the .382 fib level, this EW probably may not be valid.
Comment:
.382 seems to be holding on. Would like to see a clean break above the consolidation box to enter a long and target 77.150
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