EURJPY continues to rise after the pair broke above the key resistance level 126.950 (which stopped the sharp uptrend in August as can be seen from the daily EURJPY chart below). The breakout of the resistance level 126.950 should accelerate the active minor impulse wave (v) – which belongs to the medium-term upward impulse sequence C from October. Given the continued euro bullishness and the equally strong bearish yen sentiment seen across the FX markets today – EURJPY is expected to rise further toward the next resistance level 128.000. Strong support now stands at the support level 127.000.