USDJPY: Elliott wave analysis and forecast for 17.03.23 – 24.03.23
Main scenario: consider long positions above the level of 129.71 with a target of 140.00 – 142.43 once a correction finishes. Alternative scenario: breakout and consolidation below the level of 129.71 will allow the pair to continue declining to the levels of 127.06 – 125.00. 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). On the H4 chart, an upward fifth wave (5) has presumably started forming, with wave 1 of (5) developing inside. Apparently, the third wave of smaller degree iii of... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions above the level of 129.71 with a target of 140.00 – 142.43 once a correction finishes.
Alternative scenario: breakout and consolidation below the level of 129.71 will allow the pair to continue declining to the levels of 127.06 – 125.00.
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). On the H4 chart, an upward fifth wave (5) has presumably started forming, with wave 1 of (5) developing inside. Apparently, the third wave of smaller degree iii of... Read full author’s opinion and review in blog of #LiteFinance
