EUR/JPY Price Analysis: Extra consolidation on the table

• EUR/JPY trades in an inconclusive fashion above 149.00
• Further consolidation appears likely for the time being.

EUR/JPY keeps the trade below the 150.00 region so far on Wednesday.

In case bulls regain the initiative, there is an immediate hurdle at the so far monthly high at 150.19 (June 5). The convincing surpass of this level could put the weekly top at 151.07 (May 29) back on the radar prior to the 2023 peak at 151.61 (May 2).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 144.10.

EUR/JPY daily chart