USDJPY: Elliott wave analysis and forecast for 01.09.23 – 08.09.23

Main scenario: consider long positions above the level of 143.90 with a target of 151.50 – 160.00 once a correction is formed. 

Alternative scenario: breakout and consolidation below the level of 143.90 will allow the pair to continue declining to the levels of 141.77 – 140.48. 

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… Read full author’s opinion and review in blog of #LiteFinance