USDJPY: Elliott wave analysis and forecast for 13.10.23 – 20.10.23

Main scenario: consider long positions from corrections above the level of 148.05 with a target of 152.50 – 155.00. 

Alternative scenario: breakout and consolidation below the level of 148.05 will allow the pair to continue declining to the levels of 144.36 – 142.18. 

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. The fifth wave of smaller degree (v) of v of 3 appears to… Read full author’s opinion and review in blog of #LiteFinance