USD/JPY: Elliott Wave Analysis and Forecast for 24.01.25 – 31.01.25

Major Takeaways Main scenario: Consider short positions from corrections below the level of 158.19 with a target of 148.50 – 138.65. A sell signal: if the price holds below 158.19. Stop Loss: above 158.70, Take Profit: 148.50 – 138.65. Alternative scenario: Breakout and consolidation above the level of 158.19 will allow the pair to continue rising to the levels of 161.96 – 165.50. A buy signal: once the level of 158.19 is broken to the upside. Stop Loss: below 157.70, Take Prof