USDJPY: Elliott wave analysis and forecast for 30.06.23 – 07.07.23

Main scenario: consider long positions from corrections above the level of 142.97 with a target of 146.00 – 148.00.

Alternative scenario: breakout and consolidation below the level of 142.97 will allow the pair to continue declining to the levels of 141.21 – 138.70.

Analysis: daily chart: an ascending third wave of larger degree (3) is formed, a descending correction developed as the fourth wave (4), and the fifth wave (5) started unfolding. Wave 3 of (5) continues presumably developing on the H4 chart, with the third wave of smaller degree iii of 3 forming inside. Apparently, the fifth wave (v)… Read full author’s opinion and review in blog of #LiteFinance