EUR/JPY is generally the lead pair during the Asian session and the short and medium term outlooks are bullish. The hourly trend is very strong but hourly momentum studies are heavily overbought, so buying dips looks like the way to go there. Initial hourly support is at a previous high around 133.60. The daily picture argues for further gains towards a major 50% retracement level at 140.95 but we can expect some volatility inside a 132/137.40 range for the more immediate future.