USDJPY: The dollar was little changed before the European sessio

Volatility among major currencies was relatively mild ahead of today's European session. The Australian dollar edged up slightly, building on yesterday's sharp recovery during the US session. Notably, AUD/USD bounced off the December low and 100-day moving average at 0.6525-30 but is now returning to its previous accumulation phase near 0.6600

USD/JPY fell to a more than two-week low and tested the 146.00 level yesterday. That comes after Treasury yields fell sharply again, which made things more complicated this week.

There are no data of note on the economic calendar in Europe today. Thus, all focus and attention will be on the upcoming US employment report.