Renewed action by the SNB to weaken the CHF against the EUR and the USD has changed the FX picture and all eyes today will be on the BoJ to see if they start buying USD/JPY. Japanese exporters would love to have their products become more competitive and the Japanese authorities have not been shy in stating their preference to have USD/JPY above 100. The risk/reward trade of the day would seem to be, buy USD/JPY on dips with a stop below supposed big bids at 94.75.
Good luck today.
