EUR/JPY Price Analysis: The 200-day SMA holds the downside so far

• EUR/JPY treads water around the 143.00 zone on Thursday.
• Extra gains appear on the cards above the 200-day SMA.

EUR/JPY alternates gains with losses in the 143.00 region on Thursday, an area coincident with the temporary 100-day SMA.

While the cross looks somewhat side-lined for the time being, a convincing breakout of the 2023 high at 144.16 (February 21) could spark extra strength to, initially, the December 2022 peak at 146.72 (December 15).

In the meantime, while above the 200-day SMA, today at 141.37, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart