USDJPY: Elliott wave analysis and forecast for 29.09.23 – 06.10.23

Main scenario: consider long positions from corrections above the level of 147.24 with a target of 151.50 – 155.00.

Alternative scenario: breakout and consolidation below the level of 147.24 will allow the pair to continue declining to the levels of 144.36 – 141.77.

Analysis: an ascending wave of a larger degree C continues forming in the daily chart, with the fifth wave (5) of C unfolding as its part. In the H4 chart, there's wave 3 of (5) forming, with wave v of 3 developing as its part. Apparently, the fifth wave of smaller degree (v) of v of 3… Read full author’s opinion and review in blog of #LiteFinance