EURJPY recently reversed down from resistance area located between the key resistance level 132.200, upper daily Bollinger Band and the resistance trendline of the daily up channel from the middle of February. The downward reversal from this resistance zone stopped the previous sharp impulse wave (i) from the middle of April – by forming the daily Shooting Star. Given the strength of the aforementioned resistance area – EURJPY currency pair can be expected to fall further toward the next support level 131.000 (former minor resistance form last month).