EUR/JPY managed a rally to 132.35 earlier in the session with demand for GBP/JPY leading the parade. Prices are dipping at the moment, back below the 132.05 level above which stop-loss buy orders were perched earlier. Bulls are eying the 200-day moving average not to far above the market at 133.35, mindful that that average halted the strong rally in early April.
131.45/60 is moderate support on pullbacks for EUR/JPY near-term .Small stops are lumped around 131.40.
