USDJPY: Elliott wave analysis and forecast for 29.03.24 – 05.04.24

Main scenario: consider long positions from corrections above the level of 149.73 with a target of 155.00 – 160.00. Alternative scenario: breakout and consolidation below the level of 149.73 will allow the pair to continue declining to the levels of 148.43 – 147.70. 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 he H4 time frame, with first wave of s