USDJPY: Elliott wave analysis and forecast for 19.02.2021 – 26.02.2021
Main scenario: long positions will be relevant above the level of 102.56 with a target of 109.83 – 111.70 once correction has formed.
Alternative scenario: breakout and consolidation below the level of 102.56 will allow the pair to continue declining to the levels of 101.00 – 90.50.
Analysis: Daily TM: apparently, a descending correction of larger degree finished forming as wave B, and wave С started developing, with the first wave (1) of С forming inside.
On the H4 time frame, the third wave of smaller degree 3 of (1) started developing, with wave i of 3 formed inside. Apparently,... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/5ojB
