EUR/JPY Price Analysis: Further upside likely above 151.00

• EUR/JPY comes under further downside pressure and breaches 150.00.
• A move above 151.00 should put the 2023 peak near 151.60 on the radar.

EUR/JPY adds to Monday’s fresh bearishness and breaks below the key support at 150.00 the figure on Tuesday.

Further upside appears a plausible near-term scenario, and a convincing breakout of the round level at 151.00 could encourage the cross to confront the 2023 top at 151.61 (May 2) in the not-so-distant future.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 143.76.

EUR/JPY daily chart