USDJPY: Elliott wave analysis and forecast for 05.11.2021 – 12.11.2021
Main scenario: long positions will be relevant above the level of 112.75 with a target of 116.00 – 118.00 once a correction has formed.
Alternative scenario: breakout and consolidation below the level of 112.75 will allow the pair to continue declining to the levels of 110.83 – 109.12.
Analysis: Daily chart: there's an ascending wave of larger degree C that has presumably started forming. The third wave 3 of (1) of С is unfolding as part of the wave C.
H4 chart: a correction is completed as wave ii of 3, and wave iii of 3 is forming. On the... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/j1XMG
