USD/JPY: Elliott Wave Analysis and Forecast for 07.08.26 – 14.08.26

Major Takeaways Main scenario: Consider short positions from corrections below the level of 164.00 with a target of 151.76–148.87. A sell signal: the price holds below 164.00. Stop Loss: above 164.70, Take Profit: 151.76–148.87. Alternative scenario: Breakout and consolidation above 164.00 will allow the pair to continue rising to the levels of 166.50–170.00. A buy signal: the level of 164.00 is broken to the upside. Stop Loss: below 163.30, Take Profit: 166.50–170.00.Mai