FX.co ★ Elliott wave analysis of EUR/JPY for March 16, 2023

EUR/JPY is testing the flag support line and is likely to break below this support line soon to confirm the next part of the downside correction towards the 137.47 target. Resistance is now seen at 142.15 which we expect will act as a cap for the next downside pressure towards 137.47 and ultimately lower to 134.10.