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USDJPY, Elliot Wave Analysis

11/15/2022 10:30 AM

The price is in a correction, a fall is possible.

On the daily chart, the third wave of the higher level 3 ended, and a downward correction forms as the fourth wave 4. Now, the wave of the lower level a of 4 has formed, and a local correction is starting to form as the wave b of 4. If the assumption is correct, the USD/JPY pair will fall to the area of 133.20–127.36. In this scenario, critical stop loss level is 146.67.




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