USDJPY: Elliott wave analysis and forecast for 07.06.24 – 14.06.24

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Main scenario: consider long positions from corrections above the level of 154.37 with a target of 161.50 – 167.00.

Alternative scenario: breakout and consolidation below the level of 154.37 will allow the pair to continue declining to the levels of 151.68 – 146.44.

Analysis: the ascending fifth wave of larger degree (5) of C continues forming on the daily chart, with third wave 3 of (5) unfolding as its part. The first wave of smaller degree i of 3 and corrective second wave ii of 3 are completed on the H4 time frame, and wave iii of 3 continuing forming…. Read full author’s opinion and review in blog of #LiteFinance

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