• EUR/JPY starts the week on a positive mood around 150.00.
• Further upside is expected to re-target the 151.00 zone.

EUR/JPY reverses two consecutive daily pullbacks and regains upside traction around the 150.00 region on Monday.

In case bulls remain in control, there is an immediate hurdle at the weekly top at 151.07 (May 29), while a convincing breakout of this level exposes a probable move to the 2023 peak at 151.61 (May 2).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 144.26.