USDJPY: Elliott wave analysis and forecast for 12.05.23 – 19.05.23
Main scenario: consider short positions from corrections below the level of 135.53 with a target of 127.38 – 121.66.
Alternative scenario: breakout and consolidation above the level of 135.53 will allow the pair to continue rising to the levels of 137.86 – 142.30.
Analysis: an ascending third wave of larger degree (3) is formed on the daily chart, and a descending correction presumably continues developing as the fourth wave (4). A corrective wave B of (4) is presumably completed on the H4 chart, and wave С of (4) started developing. The first wave of smaller degree i of С appears... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3W1a7WT
