FX.co ★ Elliott wave analysis of EUR/JPY for September 10, 2021

EUR/JPY is testing support at 129.60 and could move a bit lower to 129.35 before completing the correction in wave ii. Once this correction is complete a new impulsive rally towards 134.10 and the wave 5/ target at 135.45 should be expected.

In the short term, a break above minor resistance at 130.19 will confirm that wave ii has completed and wave iii higher is in motion.