USDJPY: Elliott wave analysis and forecast for 01.12.23 – 08.12.23

Main scenario: consider short positions from corrections below the level of 151.84 with a target of 139.60 – 136.60.

Alternative scenario: breakout and consolidation above the level of 151.84 will allow the pair to continue rising to the levels of 156.00 – 160.00.

Analysis: an ascending wave of larger degree C continues forming on the daily chart, with the fifth wave (5) of C unfolding as its part. On the H4 chart, there's wave 1 of (5) formed, and a downside correction started developing as second wave 2 of (5). Apparently, wave a of 2 is developing on the H1… Read full author’s opinion and review in blog of #LiteFinance