EURJPY under bearish pressure following the earlier downward reversal from the resistance area lying between the resistance level 121.40 (top of the Evening Star from the end of July), upper daily Bollinger Band and the 50% Fibonacci correction of the previous multi-month impulse wave (C) from March. Given the moderate Japanese Yen bullishness seen across the markets – EURJPY is expected to fall further in the active wave 2 toward the next support level 120.00 (former resistance from September – which stopped the earlier wave (A)). Strong resistance remains at the resistance level 121.40.