The pair remains under pressure and extends pullback off 133.47, 01/10 recovery rejection. The price tests 132 zone, double- Fibonacci support of 76.4% of 131.63/133.47, and 50% of 129.28/134.93 rally, with focus at 131.63, 30/09 / 16/09 lows. Full retracement and break lower is expected to trigger fresh leg lower, as a part of broader corrective phase from 134.93, 19/09 peak, and will open immediate support at 131.44 with a 61.8% retracement and psychological 131.00 support. Lower timeframes studies maintain negative tone and support further easing. Alternative scenario requires regain of minimum 133.47 lower top, to sideline downside risk, while a break above 134.00 barrier is required to re-focus 134.93 peak. A break of which is needed to resume broader uptrend.
Resistance: 132.31; 132.62; 132.95; 133.21
Support: 131.63; 131.44; 131.00; 130.60
EUR/JPY Hourly Chart" title="EUR/JPY Hourly Chart" src="https://d1-invdn-com.akamaized.net/content/pic331d3dfe66879a4bfa12881b06d632fc.png" height="400" width="800">