USD/JPY: Elliott Wave Analysis and Forecast for 16.01.26–23.01.26

Major Takeaways Main scenario: Consider long positions from corrections above the level of 156.00 with a target of 162.00–165.00. A buy signal: the price holds above 156.00. Stop Loss: below 156.00, Take Profit: 162.00–165.00. Alternative scenario: Breakout and consolidation below the level of 156.00 will allow the asset to continue declining to the levels of 152.38–150.83. A sell signal: the level of 156.00 is broken to the downside. Stop Loss: above 156.00, Take Profit: 152.3