EURJPY recently reversed up from the support area lying between the pivotal support level 121.00 (former resistance from November) and the 50% Fibonacci correction of the previous sharp upward impulse wave 1 from the middle of November. The upward reversal from this support area stopped the previous corrective wave 2. EURJPY is likely to rise further in the active impulse waves 3 and (C) toward the next resistance level 122.50 (top of the previous short-term impulse wave 1 and the Shooting Star from the middle of December)
