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USDJPY, Elliot Wave Analysis

3/31/2023 10:20 AM

Growth is possible.

On the daily chart, the third wave of the higher level 3 of (1) formed, a downward correction ended as the fourth wave 4 of (1), and the fifth wave 5 of (1) develops. Now, the first wave of the lower level i of 5 has formed, a local correction has ended as the second wave ii of 5, and the wave iii of 5 is forming. If the assumption is correct, the USD/JPY pair will grow to the area of 142.17–146.77. In this scenario, critical stop loss level is 129.57.




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