It's not so much a quiet handover from Asia to Europe today as USD/JPY is on the move, rising from around 147.40 to 147.80 on the day. The jump higher isn't too big in terms of magnitude but it comes with big technical significance though. Here's a look at the chart:
The pair is now looking to clear the 100-day moving average (red line) at 147.41 and that will open up an extended range for the pair to the upside towards 150.00 next potentially.
As the pair races higher, we are seeing it translate to broader gains in the dollar as well. EUR/USD is now down 0.2% to 1.0855 while GBP/USD is down to fresh five-week lows at 1.2600. The antipodean currencies were already softer amid poor China data but are now seeing losses pile up with AUD/USD down 0.5% to 0.6553 and NZD/USD down 0.4% to 0.6115. The latter is now eyeing a test of its own 200-day moving average at 0.6090 next.