EUR/JPY looks to extend Wednesday’s uptick, although there seems to be a tough barrier around the 148.00 neighbourhood so far on Thursday.

The underlying strong upside momentum in the cross appears unchallenged for the time being. Against that, once the 148.00 hurdle is cleared, the cross could then attempt a move to the 2023 high at 148.63 (April 25).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.38.