EUR/JPY Price Analysis: Price action remains erratic

• EUR/JPY reverses two sessions with losses and regains 143.00.
• The 200-day SMA continues to hold the downside so far.

EUR/JPY picks up some pace and reclaims the area above 143.00 the figure on Thursday.

The cross keeps navigating choppy waters for the time being. In the meantime, a daily close above the 2023 peak at 145.67 (March 31) should encourage the cross to challenge the December 2022 high around 146.70 (December 15), while the breach of the 200-day SMA at 141.83 exposes a deeper drop to recent lows near 139.00.

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

EUR/JPY daily chart