FX.co ★ Elliott wave analysis of EUR/JPY for February 28, 2022

EUR/JPY developed a more complex correction in wave ii, but that should only mean a stronger rally in wave iii once it really takes over for the next rally higher towards 135.04 and more likely higher to the extension target at 139.70.

Short-term we need a break above minor resistance at 129.87 to confirm the next impulsive rally higher to 135.04 and above is in motion.