EURJPY today broke the resistance area lying between the pivotal resistance level 117.700 (which stopped the previous sharp upward correction at the end of April) and the 50% Fibonacci correction of the earlier downward impulse wave 3 from the middle of March. With the moderate bullish sentiment affecting euro today – coupled with the strong bearish Yen sentiment – EURJPY is expected to rise further toward the next resistance level 118.500 (forecast price for the completion of the active ABC correction 4).