USD/JPY: Elliott wave analysis and forecast for 30.05.25 – 06.06.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider short positions from corrections below the level of 146.32 with a target of 138.65 – 131.50. A sell signal: the price rebounds from 146.32 to the downside. Stop Loss: above 149.50, Take Profit: 138.65 – 131.50.
- Alternative scenario: Breakout and consolidation above the level of 146.32 will allow the pair to continue rising to the levels of 151.20 – 158.85. A buy signal: the level of 146.32 is broken to the upside. Stop Loss: below 145.50, Take Profit: 151.20 – 158.85.
Main scenario
Consider short positions from corrections below the level of 146.32 with a target of 138.65 – 131.50.
Alternative scenario
Breakout and consolidation above the level of 146.32 will allow the pair to continue rising to the levels of 151.20 – 158.85.
Analysis
The weekly time frame shows that the ascending wave of larger degree 3 is presumably formed, and the bearish correction continues developing as the fourth wave 4. On the daily chart, wave (А) of 4 and the corrective wave (В) of 4 are completed, while wave (C) of 4 is developing. On the H4 chart, the fifth wave 5 of (C) is unfolding, with wave i of 5 finished as its part. A correction ii of 5 has ended, and wave iii of 5 is underway. If the presumption proves correct, USD/JPY will continue to drop to the levels of 138.65 – 131.50. The level of 146.32 is critical in this scenario as a breakout will enable the pair to continue growing to the levels of 151.20 – 158.85.
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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