The EUR/JPY pair bounced off the border of the overbought zone on Friday. Sellers moved the price to the level 132.50 first. After a brief pause they continued pushing the single currency downwards on Monday. Bears almost reached the 132.00 support when a fresh bout of the buying pressure emerged and the spot bounced back to 132.50. The resistance lies at 132.50, the support is at 132.00.
If the buying pressure persists, the currency pair may recover to the 133.00 area.