Put some gas or spray some starting fluid(ether) in the intake and crank it.
If it fires up and then dies............fuel is your issue, listen for fuel pumps('86 might have 2), when key is turned on, fuel pumps should come on for 2 seconds each time key is turned on, but only for 2 seconds.
If your '86 has a carb(some did) then same applies, check for fuel at the carb.
If engine doesn't fire up..........then spark is the issue, TFI ignition systems do have issues as the age, good read here: Ford EEC-IV/TFI-IV Electronic Engine Control Troubleshooting
Print the work sheet and get a Volt/Ohm meter