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USDJPY, Elliot Wave Analysis
8/9/2022 11:43 AMA fall is possible.
On the daily chart, the first wave of the higher level (1) develops, within which the wave 3 of (1) forms. Now, the third wave of the lower level iii of 3 has ended, and a downward correction is developing as the fourth wave iv of 3, within which the wave (a) of iv has formed, and the wave (b) of iv is ending. If the assumption is correct, after the end of the correction, the USD/JPY pair will fall to the area of 127.06–123.50. In this scenario, critical stop loss level is 137.30.
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