EUR/JPY Price Analysis: Extra gains in store near term

• EUR/JPY adds to recent gains and approaches 150.00.
• The continuation of the upside could revisit the 151.00 area.

EUR/JPY extends the recovery following Thursday’s advance and trades closer to the key 150.00 yardstick on Friday.

Further recovery 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 143.95.

EUR/JPY daily chart