USD/JPY: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25

Major Takeaways Main scenario: Consider short positions from corrections below the level of 148.70 with a target of 138.65 – 131.50. A sell signal: the price pierces 148.70 from above. Stop Loss: above 149.50, Take Profit: 138.65 – 131.50. Alternative scenario: Breakout and consolidation above the level of 148.70 will allow the pair to continue rising to the levels of 151.20 – 158.85. A buy signal: the level of 148.70 is broken to the upside. Stop Loss: below 148.70, Take Profi