As we can see, EURJPY recently broke out of the trend support and resistance drawn with price level currently moving back up to retest the broken trend support level. At which, there is also a resistance line @125.75 area where price level is currently at. I will be seeing a strong downward pressure for this pair and potentially forming a H&S pattern and head towards 123.70 price level. (also 38.2 fib level) From there, if we see a BEARISH continuation, we will naturally see a 50 or 61.8 fib continuation retracement. For now, I am BEARISH on this pair.
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