EUR/JPY Price Analysis: Further side-lined trade in store

• EUR/JPY maintains the erratic performance above 158.00.
• Further consolidation remains well on the table for the time being.

EUR/JPY regains upside traction and sets aside Wednesday’s pullback, revisiting the 158.00 hurdle and above on Thursday.

Considering the ongoing performance, further range bound trade appears in the pipeline for the cross in the short-term horizon. In the meantime, the breakout of this range could put the September high of 158.65 (September 13) to the test ahead of the 2023 top at 159.76 (August 30).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 150.59.

EUR/JPY daily chart