EUR/JPY Price Analysis: Next on the upside… the moon?

• EUR/JPY rose to fresh tops well past 151.00.
• Next on the upside comes the September 2008 high near 159.60.

EUR/JPY advances further and surpasses the 151.00 mark for the first time since September 2008 on Tuesday.

The underlying strong upside momentum in the cross appears unchallenged for the time being. Against that, the continuation of the upward bias should meet the next hurdle of note at the September 2008 high at 159.62 (September 1).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.55.

EUR/JPY daily chart