USDJPY: Elliott wave analysis and forecast for 24.11.23 – 01.12.23

Main scenario: consider long positions from corrections above the level of 147.10 with a target of 153.00 – 156.00.

Alternative scenario: breakout and consolidation below the level of 147.10 will allow the pair to continue declining to the levels of 144.36 – 141.40.

Analysis: an ascending wave of larger degree C continues forming on the daily chart, with the fifth wave (5) of C unfolding as its part. On the H4 chart, there's wave 5 of (5) forming, with wave v of 5 developing as its part. Apparently, the first wave of smaller degree (i) of v of 5 is… Read full author’s opinion and review in blog of #LiteFinance