FX.co ★ Elliott wave analysis of EUR/JPY for December 16, 2021

EUR/JPY is again testing short-term important resistance at 129.56 and a break above here will confirm that wave 4/ has completed and wave 5/ higher towards at least 135.04 and possibly even closer to the 139.70 target is unfolding.

Short-term we see support at 128.31 which needs to protect the downside for the break above minor resistance at 129.07 and more importantly a break above resistance at 129.56.