EUR/JPY Price Analysis: Next on the upside remains the 150.00 zone

• EUR/JPY prints new multi-year peaks past 145.00.
• Extra gains could extend to the 2014 high near 150.00.

EUR/JPY starts the week on the positive foot and records new highs near 145.60.

Extra gains in the cross appear well favoured for the time being. The next target, however, is not expected to emerge until the 2014 high at 149.78 (December 8).

While above the 200-day SMA at 134.93, the prospects for the pair should remain constructive.

Of note, however, is the current overbought condition of EUR/JPY, which could spark a technical drop in the near term.

EUR/JPY daily chart