USDJPY: Elliott wave analysis and forecast for 24.03.2023 – 31.03.2023
Main scenario: consider long positions above the level of 127.90 with a target of 140.00 – 142.43 once a correction finishes. Alternative scenario: breakout and consolidation below the level of 127.90 will allow the pair to continue declining to the levels of 125.00 – 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). On the H4 chart, an upward fifth wave (5) presumably started forming, with wave 1 of (5) completed inside. A local correction appears to continue forming as the second... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions above the level of 127.90 with a target of 140.00 – 142.43 once a correction finishes.
Alternative scenario: breakout and consolidation below the level of 127.90 will allow the pair to continue declining to the levels of 125.00 – 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). On the H4 chart, an upward fifth wave (5) presumably started forming, with wave 1 of (5) completed inside. A local correction appears to continue forming as the second... Read full author’s opinion and review in blog of #LiteFinance
