FXStreet (Mumbai) - The bid tone on the JPY strengthened further in Europe, pushing the EUR/JPY to a session low of 131.03 before recovering slightly to 131.40 levels. Trading at two-week lows The pair fell to two-week lows after the BOJ event and extended losses on account of the risk-off mood in Europe. The cross ran into offers below 131.69 (23.6% of 149.79-126.10), but managed to recover from the low of 131.03 levels. Despite the slide, the probability of the pair ending higher on a weekly basis is still high, since the pair is still atleast 100 pips above the opening price of 131.02. EUR/JPY Technical Levels At 131.40, the immediate resistance is seen at 131.69 (23.6% of 149.79-126.10), above which the gains could be extended to 132.44 (Dec 14 low). On the other side, a break below 131.00 would expose 130.64 (Nov 16 low), under which the pair could test 130.00 levels. For more information, read our latest forex news.