USDJPY: Elliott wave analysis and forecast for 27.10.23 – 03.11.23

Main scenario: consider long positions from corrections above the level of 148.65 with a target of 152.50 – 155.00. 

Alternative scenario: breakout and consolidation below the level of 148.65 will allow the pair to continue declining to the levels of 147.14 – 144.36. 

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  3 of (5) forming, with wave v of 3 developing as its part. The fifth wave of smaller degree (v) of v of 3 appears to… Read full author’s opinion and review in blog of #LiteFinance