EURJPY recently reversed down from the resistance area lying between the pivotal resistance level 121.000 (which has been reversing the price from the start of February) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous medium-term ABC correction (2) from the start of March. Given the proximity of the aforementioned resistance area – EURJPY is likely to fall down further in the active impulse wave (3) toward the next support level 119.000. The breakout of this support level will lead to further losses toward 118.000. Strong resistance stands at 121.000.