Elliott wave analysis of EUR/JPY for September 6, 2021

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EUR/JPY did just as we expected. It broke slightly above the right should making the possible S/H/S top a failed pattern, which calls for a rally to 135.42 in the days/weeks to come.

Short-term, we should expect a temporary set-back to support near 129.55 as EUR/JPY re-fuels for the next impulsive rally towards 132.66 and 133.91 on the way towards 135.42.

Only an unexpected break below 127.93 will call for a revision of our bullish outlook.

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

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