The Euro is a hot mess today. The EUR/JPY is testing an important pivot currently - its lows from last week at 133.55. A break through that support level and then a hold will create the technical conditions for a possible double-top, which would target the 132 handle. Other downside targets along the way would include 132.65, the aforementioned 132, and 131.40. However, if this support level holds, (or we have a false break-down and move back higher) then it would signal we may just be entering a consolidation/ranging period.