Pullback on the EUR/JPY to the 133.00 level

The Euro remains weak versus most of its major counterparts and we can see on the 15 minute chart of the EUR/JPY that the drop has taken the price all the way to the 131.00 level. This is an amazing drop of more than 300 pips, from which the price bounces back up another 200 pips to visit for a second time the 133.00 level. When the price broke the 133 level to the downside today at the beginning of the trading session, it pulled back to the 133 which acted as a resistance, this time the 133 level seems to be acting again as a good resistance and the price may go back down to its medium term bearish trend.