The yen remains under broad pressure as the Japanese LDP victory past Sunday lifted expectations that the Bank of Japan would ease its policy further next Thursday. EUR/JPY has risen 6 out of the last 7 trading days, accumulating an over 500-pip gain.
At time of writing, EUR/JPY is trading at the 111.30 area, 0.8% above its opening price. As for technical levels, immediate resistances are seen at 111.45 (today's high), 111.55 (Oct 31 2011 high) and 111.92 (Aug 29 2011 high). On the downside, supports could now be found at 111.00 (psychological level), 110.70 (intraday level) and 110.30 (daily low).