It's been riding the cottails of EUR/JPY for a while now. I was long on the USD/JPY last night, bought at 115.93, and closed out at 116.41 (limit was 116.50, but I saw significant resistance above the 116.30 range and EUR may be weakening across the board).
CME Nikkei 225 backed up today, despite expectation of hot USA jobs number tomorrow (which, conventionally, should be positive for Nikkei exporter component). The ledge maybe? YEN strength would amplify.
I got out at 115.95. There was a time when it was above my price. So I placed a stop about 6 hours before the release of NFP on Friday.
Executing Leg B of strategy below tonight by buying 2 to 3 near month YEN future at and under .008750, avg in 8745 (if all three), stops to be set 55 to 65 ticks below 8750. Leg A of strategy, shorting CME near month Nikkei 225, to start tomorrow, assuming nothing startling in the equities tonight.
Leg A, with today's price action, finally opening some profit daylight over cruddy, poorly-timed, and wrongly-sequenced Leg B, which was stopped out intraday same session started (Tuesday).