On monthly chart as you can see we are in wave 5, we have seasonality chart shows us 70% possibility nzdjpy will continue bullish in nov and dec, so our bias is bullish
zoom in on daily tf after impulse wave look like we now in wave 4 of 5, we need some strength to confirm wave 5 and confident to buy, our target for w5...
As we can see on chart after a massive wave 3 we now pullback a little bit than retest ATH, current price action look very choppy and have too many wick, maybe we will have wave c in next few weeks to P pivot point. Unless by somehow we have a big bullish candle breaking close above we may turn bullish bias
About Elliott wave we still in wave 5 in degree 9, look like we completed correction triangle type and it had broken with high volume, expecting price continue bullish, if it do, it must above 137, all time otherwise a bigger correction still forming.
Base on auto Elliott wave count indicator we have extremely accurate count. We are in wave 5 now, target for wave 5 like above chart, look impossible but nothing impossible with market when it made extremely accurate count of wave 3, if it run to 10k pip maybe we will have some correction, and we got some ichimoku target to beware, ichimoku target is powerful...
Go straight up to ext 5 target and ichimoku target, I think we will have correction soon in this zone because degree and target.
We can wait for correction and next massive wave 5 bigger, look this behavior, confident to hold
On monthly time frame basis,
We had the low April 2020 followed that with very sharp up move, recently we broke counter trend line, retest and look like oil want to go higher.
Now let zoom in and take a look 2021 rally on weekly time frame,
As we can see, from major low we have...