EUR/JPY breaks higher: Blue box delivers new highs

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of EURJPY. In which, the rally from 31 July 2025 low is unfolding as an impulse sequence. Therefore, called for more upside to take place. We knew that the structure in the pair should remains incomplete & should see more upside. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

EUR/JPY one-hour Elliott Wave chart from 1.07.2026

Here’s the 1-hour Elliott wave Chart from the 1.07.2026 London update. In which, the rally to 184.92 high completed wave ((iii)) & made a pullback in wave ((iv)). The internals of that pullback unfolded as Elliott wave double correction where wave (w) ended at 183.19 low. Then a bounce to 184.43 high-ended wave (x) & started the next leg lower in wave (y) towards 182.73- 181.68 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

EUR/JPY latest one-hour Elliott Wave chart from 1.13.2026

This is the latest 1-hour Elliott wave Chart from the 1.13.2026 Asia update. In which the pair is showing a strong reaction higher taking place, right after ending the double correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. Since than the pair has already made a new high above previous wave ((iii)) high and now targeting 185.47- 186.34 minimum extension target to end wave ((v)).