EURJPY recently reversed up from the support area located between the pivotal support level 119.000 (former resistance from April) and the 50% Fibonacci correction of the previous sharp upward impulse wave 1 from the start of May. The upward reversal from this support area created the daily candlesticks reversal pattern Bullish Engulfing. Given the moderately bearish Japanese yen sentiment seen across the markets today – EURJPY is likely to rise further toward the next resistance level 122.000 (top of the earlier minor corrective wave (b) from the middle of June).