EUR/JPY has broken below minor support at 142.30 to confirm renewed downside pressure towards the 131.69 target. In the short term, we could see EUR/JPY retest and even slightly break back above the former support at 142.30 but it should be a short-lived break as the pressure is to the downside for a continuation lower in wave C/ of 2/ towards 131.69 to complete the correction in wave 2/ and set the stage for a new impulsive rally. Remember that's only when the ongoing correction is complete near 131.69.
Relevance up to 06:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
