EUR/JPY Price Analysis: Gains remain capped by 158.00

• EUR/JPY reverses part of the recent weakness and regains 156.00.
• The continuation of the recovery could dispute the 158.00 region.

EUR/JPY leaves behind three consecutive sessions of losses and manages to reclaim the area beyond the 156.00 hurdle on Thursday.

In case the rebound gathers extra impulse, a potential test of the 2023 high in the 158.00 zone could start emerging on the horizon in the near term.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.40.

EUR/JPY daily chart