USD/JPY: Elliott Wave Analysis and Forecast for 24.07.26–31.07.26

Major Takeaways Main scenario: Consider long positions from corrections above 162.60 with a target of 166.50–170.00. A buy signal: the price holds above 162.60. Stop Loss: below 162.00, Take Profit: 166.50–170.00. Alternative scenario: Breakout and consolidation below 162.60 will allow the pair to continue declining to the levels of 160.96–159.86. A sell signal: the level of 162.60 is broken to the downside. Stop Loss: above 163.20, Take Profit: 160.96–159.86.Main Scenari