EUR/JPY Price Analysis: Some consolidation likely ahead of extra gains

• EUR/JPY gives away part of Friday’s move to YTD highs.
• Extra gains should retarget the December 2022 peak near 146.70.

EUR/JPY faces some downside pressure following Friday’s yearly highs in the 143.65/70 band.

While the cross looks somewhat side-lined for the time being, a convincing breakout of the 2023 high at 143.67 (February 17) could trigger a move higher to, initially, the December 2022 top at 146.72 (December 15).

In the meantime, while above the 200-day SMA, today at 141.25, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart