USDJPY: Elliott wave analysis and forecast for 18.08.23 – 25.08.23

Main scenario: consider long positions from corrections above the level of 141.45 with a target of 151.50 – 160.00. 

Alternative scenario: breakout and consolidation below the level of 141.45 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 fifth wave of smaller degree (v) of v of 3 is… Read full author’s opinion and review in blog of #LiteFinance