USDJPY: Elliott wave analysis and forecast for 24.12.2021 – 31.12.2021
Main scenario: consider long positions from corrections above the level of 112.56 with a target of 116.50 – 118.00.
Alternative scenario: breakout and consolidation below the level of 112.56 will allow the pair to continue declining to the levels of 109.10 – 107.48.
Analysis: an ascending wave of larger degree C has presumably started forming on the daily chart, with the third wave 3 of (1) of С unfolding as part of it. On the H4 chart, there's wave iii of 3 forming, with a local correction completed inside as wave (iv) of iii. Apparently, wave (v) of iii has... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/jtrPr
