EURJPY recently broke through the resistance area lying between the resistance level 118.000 and the 38.2% Fibonacci retracement of the pervious downward impulse from the end of March. The breakout of this resistance area accelerated the active short-term correction (b). Given the strongly bearish Japanese Yen sentiment seen across the markets today – EURJPY is likely to rise further toward the next resistance level 119.000 – the breakout of which can lead to further gains toward the next resistance level 119.500 (target for the completion of the active wave (b)).