USD/JPY: Elliott wave analysis and forecast for 22.08.25 – 29.08.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 146.78 with a target of 154.80 – 158.85. A buy signal: the price holds above 146.78. Stop Loss: below 144.80, Take Profit: 154.80 – 158.85.
- Alternative scenario: Breakout and consolidation below the level of 146.78 will allow the pair to continue declining to the levels of 142.50 – 138.65. A sell signal: the level of 146.78 is broken to the downside. Stop Loss: above 148.20, Take Profit: 142.50 – 138.65.
Main Scenario
Consider long positions from corrections above the level of 146.78 with a target of 154.80 – 158.85.
Alternative Scenario
Breakdown and consolidation below the level of 146.78 will allow the pair to continue declining to the levels of 142.50 – 138.65.
Analysis
On the weekly time frame, an ascending wave of larger degree 3 has formed, a downward correction has been completed as the fourth wave 4, and the fifth wave 5 has started to develop. On the daily chart, the first wave of smaller degree (1) of 5 appears to be developing, with wave 3 of (1) forming inside. Apparently, wave iii of 3 is developing on the H4 time frame. Within it, a local corrective wave (ii) of iii is completed and wave (iii) of iii has started unfolding. If the presumption is correct, the USD/JPY pair will continue to rise to the levels of 154.80 – 158.85. The level of 146.78 is critical in this scenario, as a breakout will enable the pair to continue declining to the levels of 142.50 – 138.65.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of USDJPY in real time mode
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