FX.co ★ Elliott wave analysis of EUR/JPY for December 6, 2021

EUR/JPY has tested the ideal support at 127.50 several times and we expect to see EUR/JPY start a new impulsive rally towards at least 135.04 and ideally closer to 139.70 soon. A break above minor resistance at 129.60 will confirm that the correction in wave 4/ has completed and wave 5/ higher towards at least 135.05 is in motion.