FX.co ★ Elliott wave analysis of EUR/JPY for September 20, 2022

We continue to look for wave C/ lower towards 131.69 to complete the correction that began in early June. In the short term, we need a break below the minor support at 142.27 to confirm the next push lower towards the support at 138.21 on the way towards our long-term corrective target seen at 131.69.

Only an unexpected break above resistance at 145.43 could extend wave B/ higher towards 148.34, but it will not alter our view that this only is a corrective rally in wave B/.