Not many traders playing today and markets usually stay quiet until the start of the second week in January. Japan and China are closed today which obviously takes a lot of potential liquidity out of the market.
EUR/JPY has had a 50 pip range, 114.28/78, with sentiment being purely driven by fiscal cliff headlines.
I’d suggest that a wide 112.50/116.70 range should cover most eventualities for the next few days.