USD/JPY: Elliott wave analysis and forecast for 17.10.25 – 24.10.25 | LiteFinance
The article covers the following subjects:
Major Takeaways
- Main scenario: Once the correction ends, consider long positions above the level of 146.50 with a target of 156.50 – 158.85. A buy signal: the price holds above 146.50. Stop Loss: below 145.00, Take Profit: 156.50 – 158.85.
- Alternative scenario: Breakout and consolidation below the level of 146.50 will allow the pair to continue declining to the levels of 142.57 – 138.53. A sell signal: the level of 146.50 is broken to the downside. Stop Loss: above 148.00, Take Profit: 142.57 – 138.53.
Main Scenario
Consider long positions above the level of 146.50 with a target of 156.50 – 158.85 once a correction has been completed.
Alternative Scenario
Breakout and consolidation below the level of 146.50 will allow the pair to continue declining to the levels of 142.57 – 138.53.
Analysis
On the weekly time frame, an ascending wave of larger degree 3 has formed, and a downward correction appears to have completed as the fourth wave 4. On the daily time frame, the fifth wave 5 has presumably started forming, with wave (1) of 5 continuing to develop as its part. The third wave of smaller degree 3 of (1) is presumably developing on the H4 chart. As its part, wave iii of 3 is formed, and a local correction is unfolding as wave iv of 3. If the presumption is correct, USD/JPY will continue to rise to the levels of 156.50 – 158.85 after the correction ends. The level of 146.50 is critical in this scenario, as a breakout will enable the pair to continue declining to the levels of 142.57 – 138.53.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of USDJPY in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
