EUR/JPY Price Analysis: Extra gains in store above 150.00

• EUR/JPY regains the upside following Tuesday’s marked decline.
• The surpass of 150.00 could trigger further gains near term.

EUR/JPY trades with decent gains above the 149.00 region on Wednesday.

While the cross seems to have embarked on a consolidative phase, a convincing breakout of the key round level at 150.00 could encourage the cross to dispute the 2023 top at 151.61 (May 2) in the short-term horizon.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 143.49.

EUR/JPY daily chart