EUR/JPY has made a significant move higher overnight and there are certain to be some long-term short positions in the market who are now questioning their resolve. EUR/CHF and EUR/GBP are also consolidating recent strength and all three of the major EUR crosses look more likely to go up than down, in the short-term at least. With this being the case, EUR/USD will also be more likely to edge higher although it’s unlikely to break out of its 1.4050/1.4150 holding range during Asian trade.