USD/JPY: Elliott Wave Analysis and Forecast for 17.07.26–24.07.26

Major Takeaways Main scenario: Consider long positions from corrections above 161.55 with a target of 166.50–170.00. A buy signal: the price holds above 161.55. Stop Loss: below 161.00, Take Profit: 166.50–170.00. Alternative scenario: Breakout and consolidation below 161.55 will allow the pair to continue declining to the levels of 159.86–158.90. A sell signal: the level of 161.55 is broken to the downside. Stop Loss: above 162.10, Take Profit: 159.86–158.90.Main Scenari