FX.co ★ Elliott wave analysis of EUR/JPY for June 29, 2022

EUR/JPY has seen a new high at 144.28, not quite the target at 145.46 as we expected. The 145.46 target could still be seen as long as support at 141.39 stays intact, but with the new high all requirements to the rally from May 2020 has been fulfilled and a larger corrective decline towards at least 129.93 could be seen anytime now. A break below support at 141.39 will confirm that the top is in place and the corrective decline is in motion.