• EUR/JPY extends the rally and prints new 2023 highs on Monday.
• Once the 2022 high is cleared, the cross could challenge 150.00.

EUR/JPY climbs to new YTD peaks past the 148.00 barrier at the beginning of the week.

The strong upside momentum in the cross appears so far unabated. The surpass of the  the 2022 peak at 148.40 (October 21) is expected to shift the focus to a potential test of the key 150.00 yardstick in the not-so-distant future.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.26.

EUR/JPY daily chart