EUR/JPY Price Analysis: Strong momentum points to extra gains

• EUR/JPY clinches fresh tops near the 148.00 mark
• Immediately to the upside emerges the 2022 high at 148.40.

EUR/JPY adds to Tuesday’s advance and approaches the key 148.00 region on Wednesday.

Considering the ongoing price action, further gains in the cross remain in store for the time being. That said, the continuation of the upside momentum could extend further and challenge the 2022 peak at 148.40 (October 21) sooner rather than later.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.16.

EUR/JPY daily chart