USDJPY: Elliott wave analysis and forecast for 27.09.24 – 04.10.24

Highlights and key points Main scenario: consider short positions on corrections below the level of 147.33 with a bearish target of 131.25 – 123.97. A sell signal: if the price holds below 147.33. Stop Loss: above 148.50, Take Profit: 131.25 – 123.97. Alternative scenario: breakout and consolidation above the level of 147.33 will allow the pair to continue rising to the levels of 155.22 – 161.75. A buy signal: once the level of 147.33 is broken to the upside. Stop Loss: below 1