Elliott wave analysis of EUR/JPY for September 14, 2021

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We have seen the expected dip closer to 129.60 and EUR/JPY should now be ready to start the next impulsive rally higher to 134.24 and then towards the ideal target for wave 5/ closer to 135.42. Short-term we need a break above minor resistance at 130.23 to confirm that sub-wave ii of 5/ has completed and sub-wave iii is in motion towards 134.24 and then higher to 135.42.

Longer term we continue to look for much higher levels, but for now, just let's look for a break above minor resistance at 130.23 to confirm sub-wave ii has completed and sub-wave iii higher is in motion.

The material has been provided by InstaForex Company - www.instaforex.com

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