EUR/JPY continues to recover in slow, methodical fashion this afternoon, boosted in part my related markets like stocks and commodities climbing off their lows. The cross tried the downside early in the US trading session but put in a higher low at the 132.70 level, well above the 132.15 levels reached in Asia overnight. Retracements have pushed the cross into the 133.35/40 area. Near-term, bears will nervously eye the area of resistance between 133.57 (the 50% retracement of the 135.00/132.15 drop) and 133.85, the high overnight in Asia.