EUR/JPY has bounced back nicely this afternoon with equities recovering some of their earlier lost ground. Stops above 132.25 is are being triggered as the pair moves back above that former support level. The cross trades now at 132.50. There are a pair of lows from earlier in the day around the 132.50 level which could retrad the rally. A break above 132.50 the 133.80 level which prevailed late in London.