USDJPY: Elliott wave analysis and forecast for 26.11.21 – 03.12.21

Main scenario: consider long positions from corrections above the level of 113.58 with a target of 116.50 – 118.00. 

Alternative scenario: breakout and consolidation below the level of 113.58 will allow the pair to continue declining to the levels of 110.83 – 109.12. 

Analysis: Daily chart: there's an ascending wave of larger degree C that has presumably started forming. The third wave 3 of (1) of С is unfolding as part of the wave C. H4 chart: a correction is completed as wave ii of 3, and wave iii of 3 is forming. Apparently, the fifth wave of smaller degree… Read full author’s opinion and review in blog of #LiteForex