NZDJPY has been bearish since early July but started the trend with a possible leading diagonal which comprises of 5 waves and 3 sub-waves to it. Considering the diagram above, we are done with the waves 1, 2, 3, and 4 going for the completion of the last wave (wave 5). Wave A and B are done and price also going for wave C after which we can witness a big correction.
For now, lets see ow it plays out with a target of 410 pips from breakout.
WAVE 1 = 5 WAVES
WAVE 2 = 3 WAVES
WAVE 3 = 5 WAVES
WAVE 4 = 3 WAVES
WAVE 5 = 5 WAVES
For now, lets see ow it plays out with a target of 410 pips from breakout.
WAVE 1 = 5 WAVES
WAVE 2 = 3 WAVES
WAVE 3 = 5 WAVES
WAVE 4 = 3 WAVES
WAVE 5 = 5 WAVES