USD/JPY: Elliott Wave Analysis and Forecast for 24.10.25 – 31.10.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 149.37 with a growth target of 156.50 – 158.85. A buy signal: the price holds above 149.37. Stop Loss: below 148.90, Take Profit: 156.50 – 158.85.
- Alternative scenario: Breakout and consolidation below the level of 149.37 will allow the pair to continue declining to the levels of 145.28 – 142.57. A sell signal: the level of 149.37 is broken to the downside. Stop Loss: above 149.80, Take Profit: 145.28 – 142.57.
Main scenario
Consider long positions from corrections above the level of 149.37 with a target of 156.50 – 158.85.
Alternative scenario
Breakout and consolidation below the level of 149.37 will allow the pair to continue declining to the levels of 145.28 – 142.57.
Analysis
On the weekly time frame, an ascending wave of larger degree 3 has formed, and a downward correction 4 appears to have completed. On the daily time frame, the fifth wave 5 has presumably started forming, with wave (1) of 5 continuing to develop as its part. The third wave of smaller degree 3 of (1) is presumably developing on the H4 chart. As its part, wave iii of 3 is formed, a local correction iv of 3 is completed, and wave v of 3 is unfolding. If the presumption is correct, USD/JPY will continue to rise to 156.50 – 158.85. The level of 149.37 is critical in this scenario as a breakout will enable the pair to continue declining to the levels of 145.28 – 142.57.
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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