• EUR/JPY undoing overbought Apr-May short squeeze now: 133.65 the on-close pivot point
  
  
• EUR sales as forex hedge on foreign buying of EUR assets is resuming, slowly
  
  
• Sub 133.65 (23.6% of Apr-May rise) close targets 38.2% at 132.21
  
  
• Worst of Bund/DM govt bond & equities selloff likely seen on May 7
  
  
• Greece the wildcard risk with little progress made & default threat rising