USDJPY: Elliott wave analysis and forecast for 26.04.24 – 03.05.24

Main scenario: consider long positions from corrections above the level of 153.60 with a target of 158.34 – 161.50.Alternative scenario: breakout and consolidation below the level of 153.60 will allow the pair to continue declining to the levels of 150.75 – 146.44.Analysis: an ascending wave of larger degree C continues forming on the daily chart, with fifth wave (5) of C unfolding as its part. The third wave 3 of (5) is unfolding on the H4 time frame, with first wave of smaller degr