USDJPY: Elliott wave analysis and forecast for 30.12.2022 – 06.01.2023
Main scenario: consider short positions from corrections below the level of 134.60 with a target of 127.32 – 121.39. Alternative scenario: breakout and consolidation above the level of 134.60 will allow the pair to continue rising to the levels of 138.24 – 140.57. Analysis: a bullish third wave of larger degree (3) presumably finished developing on the daily chart, with wave 5 of (3) formed inside. A downside correction continues developing as the fourth wave (4) on the H4 chart, with wave C of (4) forming inside. Apparently, the second wave of smaller degree ii of C is complete on... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider short positions from corrections below the level of 134.60 with a target of 127.32 – 121.39.
Alternative scenario: breakout and consolidation above the level of 134.60 will allow the pair to continue rising to the levels of 138.24 – 140.57.
Analysis: a bullish third wave of larger degree (3) presumably finished developing on the daily chart, with wave 5 of (3) formed inside. A downside correction continues developing as the fourth wave (4) on the H4 chart, with wave C of (4) forming inside. Apparently, the second wave of smaller degree ii of C is complete on... Read full author’s opinion and review in blog of #LiteFinance
