USDJPY: Elliott wave analysis and forecast for 31.03.23 – 07.04.23
Main scenario: consider long positions from corrections above the level of 129.45 with a target of 140.00 – 142.43. Alternative scenario: breakout and consolidation below the level of 129.45 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). Apparently, a bullish fifth 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 129.45 with a target of 140.00 – 142.43.
Alternative scenario: breakout and consolidation below the level of 129.45 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). Apparently, a bullish fifth 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
