EURJPY recently broke the support zone located between the support levels 123.400 (low of the previous daily Hammer) and 123.000 (coinciding with the 61.85 Fibonacci correction of the sharp upward impulse from July). Given the continued bullish sentiment affecting yen today – EURJPY is likely to fall further toward the next support level 122.000 (target price for the completion of the active impulse wave 3) – the breakout of which can lead to further losses toward 121.000.