#CurrencyPairPrediction Fibonacci Retracement and Elliott Wave Theory are popular technical analysis tools used in forecasting movements in currency pairs like USD/JPY: Fibonacci Retracement identifies potential support and resistance levels by plotting key retracement ratios (23.6%, 38.2%, 50%, 61.8%, and 78.6%) from a significant price move (high to low or low to high). Traders watch these levels for potential price reversals or continuations. Elliott Wave Theory suggests that market prices move in predictable patterns of five waves in the direction of the main trend, followed by three corrective waves (a "5-3" move). In USD/JPY forecasting, analysts combine wave counts with Fibonacci ratios to predict the length and targets of future waves, improving the timing and confidence of trade setups. In combination, Fibonacci levels are often used to validate or project the structure of Elliott Waves in USD/JPY, helping traders anticipate corrections and trend continuations more precisely.