I think the stock market could bounce near term, which should support the EUR/JPY. It has had a major selloff since it peaked at 170, but thus far, it has occured in 3-waves. I will try to call a bottom around 134 as there is a confluence of strong support in this region:
- 133.95: 78.6% fibo
- 133.87: WaveC=WaveA
- 133.80: trendline support
My stop will be below the Wave2 low around 130.