USDJPY: Elliott wave analysis and forecast for 25.08.23 – 01.09.23

Main scenario: consider long positions from corrections above the level of 144.33 with a target of 151.50 – 160.00. 

Alternative scenario: breakout and consolidation below the level of 144.33 will allow the pair to continue declining to the levels of 137.48 – 133.52. 

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 3 of (5) forming, with wave v of 3 developing as its part. Apparently, the third wave of smaller degree (iii) of v of 3 is… Read full author’s opinion and review in blog of #LiteFinance