FX.co ★ Elliott wave analysis of EUR/JPY for February 10, 2023

It has been a while since we have looked at EUR/JPY and for a good reason. EUR/JPY remains locked inside the triangle, that has dominated the picture since mid-December 2022. However, we are in the final stages of this triangle. EUR/JPY is likely to move lower towards 137.55 and the target area between 134.55 - 135.00 to complete the ongoing correction and set the stage for a new impulsive rally towards 170 as the next major target.