EUR/JPY Price Analysis: Extra consolidation seems likely

• EUR/JPY adds to Friday’s uptick and approaches 145.00.
• Next on the upside comes the minor hurdle at 146.13.

EUR/JPY extends the recent rebound to the vicinity of the 145.00 neighbourhood at the beginning of the week.

The cross manages to leave behind the earlier pullback to the 143.00 region and now targets the 145.00 zone. The continuation of the bounce exposes a potential test of the weekly high at 146.13 (November 23) in the short term.

In the longer run, while above the key 200-day SMA at 138.83, the positive outlook is expected to remain unchanged.

EUR/JPY daily chart