FX.co ★ Elliott wave analysis of EUR/JPY for December 13, 2021

EUR/JPY has most likely completed its correction in wave 4// Therefore, we can see another impulsive rally in wave 5/ towards at least 135.04 and possibly even closer to the 61.8% target at 139.70. The only thing we need to confirm is that wave 4/ has been completed and a break above minor resistance at 129.56. If so, a rally to 135.04 and maybe even higher may occur.