USDJPY: Elliott wave analysis and forecast for 15.12.23 – 22.12.23

Main scenario: consider short positions from corrections below the level of 151.75 with a target of 136.60 – 133.00. 

Alternative scenario: breakout and consolidation above the level of 151.75 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; a downside correction started developing as second wave 2 of (5). Apparently, wave a of 2 continues developing on the H1 time… Read full author’s opinion and review in blog of #LiteFinance