USDJPY: Elliott wave analysis and forecast for 07.04.23 – 14.04.23
Main scenario: consider long positions from corrections above the level of 130.50 with a target of 138.00 – 142.30. Alternative scenario: breakout and consolidation below the level of 130.50 will allow the pair to continue declining to the levels of 127.38 – 121.66. Analysis: an ascending third wave of larger degree (3) is formed on the daily chart, and a descending correction presumably developed as the fourth wave (4). Apparently, the fifth bullish wave (5) started developing on the H4 chart, with wave 1 of (5) formed and a local correction completed as second wave 2 of (5) inside. The... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 130.50 with a target of 138.00 – 142.30.
Alternative scenario: breakout and consolidation below the level of 130.50 will allow the pair to continue declining to the levels of 127.38 – 121.66.
Analysis: an ascending third wave of larger degree (3) is formed on the daily chart, and a descending correction presumably developed as the fourth wave (4). Apparently, the fifth bullish wave (5) started developing on the H4 chart, with wave 1 of (5) formed and a local correction completed as second wave 2 of (5) inside. The... Read full author’s opinion and review in blog of #LiteFinance
