EUR/JPY Price Analysis: Scope for further range bound trade

• EUR/JPY leaves behind Tuesday’s small downtick and retakes 143.00.
• The breakout of the consolidation theme faces resistance near 145.60.

EUR/JPY advances markedly and regain the area beyond the 143.00 hurdle to print new multi-session peaks on Wednesday.

The cross so far surpasses the key 200-day SMA near 141.80, and a sustainable surpass of this region should open the door to further upside in the short-term horizon. Moving forward, the consolidation theme is expected to remain unchanged, while a more serious bounce should target the monthly highs around 145.50.

In the meantime, extra losses remain on the table while the cross trades below the 200-day SMA.

EUR/JPY daily chart