Home News USDJPY: Elliott wave analysis and forecast for 17.06.2022 – 24.06.2022

USDJPY: Elliott wave analysis and forecast for 17.06.2022 – 24.06.2022


Main scenario: consider short positions from corrections below the level of 135.56 with a target of 128.92 – 124.90. 

Alternative scenario: breakout and consolidation above the level of 135.56 will allow the pair to continue rising to the levels of 140.00 – 145.00. 

Analysis: the third wave of larger degree (3) continues developing on the daily chart, with wave 3 of (3) formed inside. Supposedly, a descending correction started forming as the fourth wave 4 of (3). The wave of smaller degree а of 4 appears to be developing on the H1 chart. If this assumption is correct, the pair will continue falling to the levels of 128.92 – 124.90. The level of 135.56 is critical in this scenario as a breakout will enable the pair to continue growing to the levels of 140.00 – 145.00.

Price chart of USDJPY in real time mode

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