USDJPY: Elliott wave analysis and forecast for 22.12.23 – 29.12.23

Main scenario: consider short positions from corrections below the level of 147.67 with a target of 136.60 – 133.00 once a correction is completed. 

Alternative scenario: breakout and consolidation above the level of 147.67 will allow the pair to continue rising to the levels of 151.92 – 156.00. 

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 1 of (5) formed, and a downside correction started developing as second wave 2 of (5). On the H1 chart, apparently,… Read full author’s opinion and review in blog of #LiteFinance