USDJPY: Elliott wave analysis and forecast for 31.05.24 – 07.06.24

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Main scenario: consider long positions from corrections above the level of 153.45 with a target of 161.50 – 167.00.

Alternative scenario: breakout and consolidation below the level of 153.45 will allow the pair to continue declining to the levels of 150.70 – 146.44.

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

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