FX.co ★ Elliott wave analysis of EUR/JPY for September 28, 2023

EUR/JPY is set to test short-term important support at 156.59. A break below here will confirm that wave B has been completed and wave C towards 141.35 is unfolding. For now, we need to stay patient and wait for the break below support at 156.59 to confirm that the peak of wave B is in place, but it should just be a matter of time before the final leg of the expanded flat really takes over and pushes EUR/JPY lower.