USDJPY: Elliott wave analysis and forecast for 23.06.23 – 30.06.23

Main scenario: consider long positions from corrections above the level of 141.20 with a target of 146.00 – 148.00.

Alternative scenario: breakout and consolidation below the level of 141.20 will allow the pair to continue declining to the levels of 138.70 – 136.94.

Analysis: daily chart: an ascending third wave of a larger degree (3) is formed, a descending correction developed as the fourth wave (4), and the fifth wave (5) started unfolding. Wave 3 of (5) is presumably developing on the H4 chart, with the third wave of smaller degree iii of 3 continuing to form inside. On the… Read full author’s opinion and review in blog of #LiteFinance