The Japanese have never had a problem with trying to weaken their currency and their chance might be now. After the leads from the SNB and the Fed, the Bank of Japan might use the opportunity to get USD/JPY back over 100 and the JPY crosses on the march higher again.
My medium term range expectation remains 92-102 in USD/JPY and I will be happy to enter the market on either side but my bias is slightly bullish.
