EUR/JPY Price Analysis: Extra consolidation on the cards

• EUR/JPY keeps the erratic performance above 143.00 on Monday.
• Next on the upside comes the cycle highs past 145.00.

EUR/JPY keeps the choppiness well and sound above the 143.00 mark at the beginning of the week.

Price action around the cross remains inconclusive for the time being and would not be surprising to see this stance extend in the next sessions. That said, a break above the this range bound theme exposes the 2022 peaks around 145.60, while the 139.00 zone – where the 55- and 100-day SMAs coincide – should offer initial contention.

In the meantime, while above the 200-day SMA at 135.30, the prospects for the pair should remain constructive.

EUR/JPY daily chart