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First, always do the 50/50 test when you have a "crank but no start", this applies to any gasoline engine, 1 cylinder to V12s, lol
Spray fuel into the intake and crank the engine
If it starts and dies then Fuel delivery is the problem
If it doesn't start then spark(or compression) is the problem.
50/50
Don't have to waste time and money on wondering where to start looking for the problem.
Good that you tested compression, takes that off the table, 4.0l OHV should run 155-165psi compression
1996 uses the EEC-V computer so it runs fuel injection AND spark both.
Crank sensor is connected directly to computer so times BOTH injectors and spark
Computer doesn't even know you want to start the engine until crank sensor sends it AC volt pulses
Not sure what you mean by "waves don't match", Crank sensor generates it own AC voltage, .5-1vAC should show when cranking engine over
With Key on all 6 fuel injectors and the coil pack should get 12volts on their Red wires
Computer will also get 12volts and CEL(check engine light) should come on.
The computer and injector voltage comes from the PCM relay and PCM fuse(#13, 30amp) in engine fuse box
But the 12v to activate this relay and the 12v for the Coil Pack comes from fuse #19(25amp) in the Cab Fuse Box, key on, yes silly setup for coil pack, lol.
Anyway, do the 50/50 test and see if its a spark or fuel issue.
All fuel injected computers have a Clear Flooded Engine routine
So shorted TPS(throttle position sensor) could cut off fuel injector pulses, long shot but have seen it happen one time
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