Home News USDJPY: Elliott wave analysis and forecast for 24.06.22 – 01.07.22

USDJPY: Elliott wave analysis and forecast for 24.06.22 – 01.07.22

39
0


Main scenario: consider long positions from corrections above the level of 131.44 with a target of 140.00 – 145.00.

Alternative scenario: breakout and consolidation below the level of 131.44 will allow the pair to continue declining to the levels of 124.90 – 121.57.

Analysis: the third wave of larger degree (3) continues developing on the daily chart, with wave 3 of (3) forming as its part. Supposedly, the fifth wave of smaller degree v of 3 keeps on forming on the H4 chart. Wave (iii) of v appears to have formed on the H1 chart, and a local correction is coming to its end as wave (iv) of v. If the presumption is correct, the pair will continue to rise to the levels of 140.00 – 145.00. The level of 131.44 is critical in this scenario as a breakout will enable the pair to continue declining to the levels of 124.90 – 121.57.



Price chart of USDJPY in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Rate this article:

{{value}} ( {{count}} {{title}} )



Previous articleEURCHF set to clear 1.01?
Next articleJapanese Candlesticks Analysis 24.06.2022 (USDCAD, AUDUSD, USDCHF) :: InvestMacro