USDJPY: Elliott wave analysis and forecast for 16.08.24 – 23.08.24

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Highlights and key points

Main scenario: consider long positions from corrections above the level of 141.66 with a growth target of 165.00 – 170.00. A buy signal: after the price returns above 141.66. Stop Loss: below 140.50, Take Profit: 165.00 – 170.00.
Alternative scenario: breakout and consolidation below the level of 141.66 will allow the pair to continue declining to the levels of 129.34 – 121.00. A sell signal: after the level of 141.66 is broken to the downside. Stop Loss: above 143.00, Take Profit: 129.34 – 121.00.

Main scenario

Consider long positions from corrections above the level of 141.66… Read full author’s opinion and review in blog of #LiteFinance

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