FXStreet (Mumbai) - Broad based US dollar strength remained the underlying theme in a data-quiet Asian session, with the USD/JPY pair extending gains beyond 122 handle. While the Antipodean currencies halted their upbeat momentum and fell into the red zone, mainly due to the ongoing weakness in oil prices. Key headlines in Asia BOJ should subtract oil decline in judging inflation target – Japan’s Amari ECB’s Praet blames unrealistic expectations for ECB’s Dec disappointment PBOC sets yuan midpoint at more than 4-yr low for 3rd day Dominating themes in Asia - centered on JPY, AUD, NZD A low-key affair in Asia, with no significant releases on the data-front and markets favouring the US currency heading into next week’s Fed meeting. USD/JPY extended its correction to the upside from Monday’s extensive slide and trades firmer beyond 122 handle, having taken-out the 200 & 50-DMA upside barrier. While markets ignored Thursday’s mixed set of US economic data, which showed the US weekly jobless claims hitting a five-month high. While the sentiment soured around the higher-yielding currencies such as the Antipodes and the pound, on the back of the persistent weakness in oil prices. The Antipodeans suffer the most on lower oil prices, as it negatively affects their LNG exports. AUD/USD drops -0.49% to 0.7245 levels, moving further away from 0.73 handle. While the kiwi loses -0.16% and trades around 0.6754, having faced rejection at 200-DMA. On the equities space, Asian indices trade mixed, with Japan’s benchmark, the Nikkei rebounding 0.80% at 19,200 while Australia’s S&P ASX index finished -0.30% lower to 5,023. The mainland China’s benchmark, the Shanghai Composite tanks -0.85% to 3,426, while Hong Kong’s Hang Seng loses -0.80% to 21,527. Heading into Europe & the US After an eventful European session yesterday on the back central banks event, today EUR calendar offers nothing relevant on the cards, except for 2nd-tier data from Germany – final CPI and WPI. While from the UK docket, less significant construction output and consumer inflation expectations data will be published. However, the main markets movers are expected to emerge from the US calendar, with a host of key dataflow in store. The US retail sales, PPI and consumer sentiment figures will be closely eyed apart from other 2nd-tier releases. While BOE MPC member Weale is expected to speak about pension reforms at the National Institute of Economic and Social Research, in London. EUR/USD Technicals Valeria Bednarik, Chief Analyst at FXStreet explained, “Short term, the 1 hour chart shows that the price remains below a bearish 20 SMA, while the technical indicators head nowhere below their mid-lines, supporting some further declines. In the 4 hours chart, the 20 SMA has extended its advance below the current level and now provides an immediate support around 1.0920, whilst the technical indicators are turning north above their mid-lines after correcting overbought readings, limiting the bearish potential at the time being.” ------- What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18th and get the recording too. ------- For more information, read our latest forex news.