USDJPY: Elliott wave analysis and forecast for 08.03.24 – 15.03.24

Main scenario: consider long positions from corrections above the level of 145.98 with a target of 152.50 – 155.00.Alternative scenario: breakout and consolidation below the level of 145.98 will allow the pair to continue declining to the levels of 143.29 – 140.17.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, wave 1 of (5) was formed, and a downside correction was completed as