USDJPY: Elliott wave analysis and forecast for 21.07.23 – 28.07.23

Main scenario: consider short positions below the level of 142.05 with a target of 130.00 – 127.00 once a correction is completed. 

Alternative scenario: breakout and consolidation above the level of 142.05 will allow the pair to continue rising to the levels of 145.00 – 148.00. 

Analysis: an ascending third wave of larger degree (3) is formed and a descending correction continues developing as the fourth wave (4) on the daily chart. Wave В of (4) is formed on the H4 chart, and wave C of (4) is now developing. Apparently, the first wave of smaller degree i of С… Read full author’s opinion and review in blog of #LiteFinance