EUR/JPY Price Analysis: Further upside could see 146.70 retested

• EUR/JPY adds to the positive start of the week above 145.00.
• Beyond the YTD high near 1456.60 the pair should meet 146.70.

EUR/JPY advances for the second session in a row and manages to surpass the key 145.00 barrier on Tuesday.

The continuation of the current upside momentum faces the next hurdle at the 2023 high at 145.56 (March 2). The breakout of this level could motivate the cross challenge the December 2022 top at 146.72 (December 15) prior to the 2022 high at 148.40 (October 21 2022).

In the meantime, while above the 200-day SMA, today at 141.70, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart