EURJPY recently reversed up from the key support level 124.600 (former powerful resistance from June, which stopped the previous impulse wave (iii)), coinciding with the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from July. Given the clear daily uptrend and the rising bullish euro sentiment seen across the currency markets today – EURJPY is likely to rise further toward the next resistance level 126.800 (top of the previous short-term impulse wave (v) from last month).