USDJPY: Elliott wave analysis and forecast for 25.09.20 – 02.10.20

Main scenario: consider long positions from corrections above the level of 103.95 with a target of 106.63 – 108.14.

Alternative scenario: breakout and consolidation below the level of 103.95 will allow the pair to continue declining to the levels of 103.00 – 102.00.

Analysis: On the daily time frame, apparently a descending correction of larger degree finished forming as wave B, and wave С started developing, with the first wave 1 of (1) of C formed inside. On the H4 time frame, a descending correction of smaller degree presumably finished forming as wave 2 of (1), with wave c of…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>