• EUR/JPY navigates within a narrow range below the 144.00 mark.
• A move above the 2023 peak should spark extra upside.

EUR/JPY alternates gains with losses in the sub-144.00 region at the beginning of the week.

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 141.45, the outlook for the cross is expected to remain positive.