USDJPY: Elliott wave analysis and forecast for 26.01.24 – 02.02.24

Main scenario: consider long positions from corrections above the level of 146.62 with a target of 151.77 – 155.00. 

Alternative scenario: breakout and consolidation below the level of 146.62 will allow the pair to continue declining to the levels of 143.30 – 140.12. 

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 1 of (5) formed, a downside correction completed as second wave 2 of (5), and the third wave 3 of (5) forming. The first wave of… Read full author’s opinion and review in blog of #LiteFinance