EURJPY In The Correction Phase

We have a strong uptrend here. In Daily Time frame: Price has broken out its last peak. In Hourly: After a sharp rise, price may retrace 50% or 61.8% of fibonacci levels which is a strong support zone as well (around 127.450 - 127.300). IF price retraced to that area and then got rejected, we can expect a grow again around 128.00