• EUR/JPY climbs sharply to 2023 past 149.00.
• Further upside could visit the 150.00 region in the near term.

EUR/JPY rallies north of the 149.00 hurdle for the first time since early December 2014.

The underlying strong upside momentum in the cross appears unchallenged for the time being. Against that, the continuation of the upward bias should challenge the key 150.00 barrier in the relatively short term.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.43.

EUR/JPY daily chart