EUR/JPY Price Analysis: Recovery retargets 150.00 and above

• EUR/JPY adds to Friday’s gains beyond 149.00.
• Extra upside should meet the next target at 150.00.

EUR/JPY extends Friday’s recovery and reclaims the area above 149.00 the figure at the beginning of the week.

The bullish outlook appears now reinvigorated and could propel the cross to revisit the key 150.00 mark in the short-term horizon. Further up, the cross could challenge the 2023 peak at 151.61 (May 2).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.78.

EUR/JPY daily chart