USDJPY: Elliott wave analysis and forecast for 02.08.24 – 09.08.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 140.92 with a growth target of 165.00 – 170.00. A buy signal: after a breakout above 140.92. Stop Loss: below 140.00, Take Profit: 165.00 – 170.00. Alternative scenario: breakout and consolidation below the level of 140.92 will allow the pair to continue declining to the levels of 129.34 – 121.00. A sell signal: after the level of 140.92 is broken to the downside. Stop Loss: abo