USDJPY: Elliott wave analysis and forecast for 01.03.24 – 08.03.24

Main scenario: consider long positions from corrections above the level of 149.21 with a target of 152.50 – 155.00. Alternative scenario: breakout and consolidation below the level of 149.21 will allow the pair to continue declining to the levels of 145.90 – 143.29. Analysis: an ascending wave of larger degree C continues forming on the daily chart, with the fifth wave (5) of C unfolding as its part. On the H4 chart, there's wave 1 of (5) formed and a downside correction co