We can expect to see the BoJ step in to the USD/JPY market to calm it down if another big sell-off develops in the JPY crosses. Whilst I certainly do not think we will see anything like the carnage that happened overnight, the market is bound to be extremely nervous and if equity markets get hit again then the JPY crosses will be hit hard. Volatility in the FX market is presently at around 1/5th of its normal level.