• EUR/JPY comes under pressure after hitting new yearly peaks.
• The continuation of the uptrend should revisit the December 2022 top.

EUR/JPY deflates from earlier YTD highs in the 145.50 region on Thursday.

The continuation of the current upside momentum faces the immediate hurdle at the 2023 high at 145.56 (March 2). Once this level is cleared, the par could then challenge the December 2022 top at 146.72 (December 15) ahead of the 2022 high at 148.40 (October 21 2022).

In the meantime, while above the 200-day SMA, today at 141.59, the outlook for the cross is expected to remain positive.