USDJPY: Elliott wave analysis and forecast for 21.06.24 – 28.06.24

Main scenario: consider long positions from corrections above the level of 154.50 with a target of 161.50 – 167.00.Alternative scenario: breakout and consolidation below the level of 154.50 will allow the pair to continue declining to the levels of 151.68 – 146.44.Analysis: the ascending fifth wave of larger degree (5) of C continues forming on the daily chart, with third wave 3 of (5) unfolding as its part. The first wave of smaller degree i of 3 and the corrective second wave ii of