NZDJPY Flashback Update: Breakout Follows Completed Wave Four Triangle
NZDJPY has been pushing higher since April, and in our previous analysis published on May 12, we highlighted the developing wave four structure and the possibility of a triangle forming within the consolidation phase. At that time, price was still trapped below the 95.00 level, with support holding firmly above 92.50. CHECK IT HERE
That view has now played out as expected.
The wave four triangle has been fully completed, and the market has resolved to the upside with a breakout above the consolidation range. This confirms that the corrective structure has finished and that NZDJPY is transitioning into the next impulsive phase.
As long as price continues to hold above the 92.50 support zone, the broader bullish structure remains intact. The breakout signals the start of a potential wave five advance in C, with initial upside targets in the 96.00–97.00 region, and an extended projection toward 99.00–100.00 if momentum continues to build.
This development aligns with the scenario outlined in our May 12 update, where we emphasized that a completed corrective structure could lead to another bullish continuation once the range resolves.
