EUR/JPY Price Analysis: Recovery targets the 2023 high at 145.60

• EUR/JPY regains some balance and approaches 144.00.
• The continuation of the rebound could see the YTD peak revisited.

EUR/JPY manages to leave behind three consecutive sessions with losses and trades at shouting distance from the 144.00 zone on Tuesday.

Further recovery in the cross is expected to meet the next hurdle of note at the so far 2023 high at 145.56 (March 2). The surpass of the latter exposes a probable move to the December 2022 peak at 146.72 (December 15).

While above the 200-day SMA at 141.79, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart