20.12.202208:18 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for December 20, 2022

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EUR/JPY is unfolding the scenario according to expectations. After a temporary recovery in wave B to 146.73, we saw a strong decline as wave C took over. The ideal target for wave C is seen at the origin of the ending diagonal near 133.00.

In the short term, we see resistance at 142.70. If broken, a retest of the former support line of the ending diagonal near 143.80 could be seen before renewed downside pressure towards the 133 target.

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