USD/JPY: Elliott wave analysis and forecast for 11.10.24 – 18.10.24

Highlights and key points Main scenario: consider short positions from corrections below the level of 151.54 with a target of 131.25 – 123.97. A sell signal: if the price holds below 151.54. Stop Loss: above 152.30, Take Profit: 131.25 – 123.97. Alternative scenario: breakout and consolidation above the level of 151.54 will allow the pair to continue rising to the levels of 153.88 – 156.74. A buy signal: once the level of 151.54 is broken to the upside. Stop Loss: below 150.80,