USDJPY: Elliott wave analysis and forecast for 08.04.2022 – 15.04.2022

Main scenario: consider long positions from corrections above the level of 121.10 with a target of 126.00 – 128.00. 

Alternative scenario: breakout and consolidation below the level of 121.10 will allow the pair to continue declining to the levels of 118.67 – 114.57. 

Analysis: the third wave of larger degree 3 presumably continues developing on the daily chart, with wave iii of 3 forming as its part. The fifth wave (v) of iii continues forming on the H4 chart. The third wave iii of (v) appears to have formed on the H1 chart, a local correction is completed as wave… Read full author’s opinion and review in blog of #LiteFinance