USDJPY: Elliott wave analysis and forecast for 20.11.2020 – 27.11.2020

Main scenario: consider short positions from corrections below the level of 105.66 with a target of 102.50 – 101.11.

Alternative scenario: breakout and consolidation above the level of 105.66 will allow the pair to continue rising to the levels of 106.39 – 107.36.

Analysis: Daily time frame: presumably, a correction of larger degree is completed in the form of wave (B). Wave (С) has started to form, with the third wave 3 of (C) developing inside. H4 time frame: the first wave of smaller degree (i) of iii of 3 formed and an ascending correction is completed in the form… Read full author’s opinion and review in blog of #LiteForex