EURJPY Despite falling sharply to 132.37

Despite falling sharply to 132.37 earlier as the single currency found good support and has only gathered after finding renewed buying interest at 133.04, the currency pair is likely to retrace the fall from 138.33 as the price has already exceeded 38.2% correction, the euro seems to be moving towards Kijun-Sen at 135.12, then 50% level of violation 135.35 (just below 135.38 former resistance), but the price should falter and under 61, 8% correction level of 136.05.

Therefore, we are looking to buy EUR / Yen for the withdrawal of such returns. If the price drops back below the 133.04 support, this will stop this mildly bullish view and propose a complete correction of 132.37, then 139.26 down from the top will continue for a retest of 132.37.