Elliott wave analysis of EUR/JPY for October 28, 2021


The correction we where looking for towards the 38.2% corrective target at 131.51 has likely finished just above this target at 131.77. We could still see a final spike lower to the ideal target at 131.51, but we will instead look for a break break above minor resistance at 132.67 as confirmation that the correction is done and the impulsive trend higher has been revived for a rally towards the long-term target at 135.42 that should complete wave 5/ and 3.

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

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