EURJPY recently broke sharply through the support area lying between the strong support level 124.30 (which has been reversing the price from the start of August) – coinciding with the 38.2% Fibonacci correction of the upward impulse wave (1) from July. Given strengthening bullish sentiment affecting the yen today, coupled with the moderate euro bearishness – EURJPY is likely to extend the losses toward the next support level 123.000 (61.8% Fibonacci correction of the aforementioned impulse wave (1)).