EUR/JPY looking for some bids after bouncing off of 130.00

• The EUR gave up ground to the Yen in risk-off trading to kick off the new trading week.
• Asia will be a quiet affair leading up to the EU PMI showing later today.

The EUR/JPY is trading on the low side after falling in Monday's trading, working around 130.25 as of writing, but is looking for some lift as the Yen begins to relax its grip in early Tuesday action.

The European markets were dark for Easter Monday and all of the action was one-sided yesterday as the US markets came online after the Easter long weekend to a fresh round of risk aversion as tensions about tariffs continue to plague broader risk appetite.

Tuesday is a thin showing for the Yen on the macro calendar, but the Euro side will be seeing Markit PMIs from across the European continent splashing down, finishing off with the Eurozone PMIs hitting the markets at 08:00 GMT, though the big mover for the week in Europe will be European CPIs on Wednesday.

EUR/JPY Levels to watch

A correction from yesterday's dropoff will face immediate resistance at the 50.0 Fibo level near 130.60, while a continuation will have to contend with yesterday's high at 131.30, but support remains thin and bears could easily knock the pair below the current floor at the 130.00 handle and push into March's lows near 129.00.