EUR/JPY Price Analysis: Further gains likely above the YTD top

• EUR/JPY trades on the defensive around 144.00 midweek.
• Extra gains appear on the cards once the 2023 peak is cleared.

EUR/JPY adds to Tuesday’s decline and revisits the mid-143.00s, where some initial contention appears to have emerged on Wednesday.

In the meantime, a daily close above the 2023 peak at 145.67 (March 31) should encourage the cross to shift its focus to the December 2022 high around 146.70 (December 15) in the near term.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 141.83.

EUR/JPY daily chart