FXStreet (Mumbai) - The 7-day winning streak in the EUR/JPY appears to have run out of steam today near 131.69 (23.6% of Dec 2014 high-April 2015 low). EUR under pressure as bond yield drop The common currency is under pressure today as the Japan’s negative rate surprise triggered speculation of a more aggressive ECB easing. This is evident from the action in the German bund yields – 10-yr yield dropped to lowest since April 2015 and the 5-yr yield hit a record low of -0.318%. However, the Yen too remains under pressure given the nation has negative yields on bonds upto 7-yr maturity. Consequently, the cross is trading largely unchanged on the day around 131.42. EUR/JPY Technical Levels The immediate resistance is seen at 131.69 (23.6% of Dec 2014 high-April 2015 low), above which the pair could rise to 132.34 (100-DMA). On the other hand, a break below 131.03 (Dec 18 low) would shift risk in favor of a drop to 129.53 (5-DMA). For more information, read our latest forex news.