who knows, but historically in the last few years, going long JPY has been a recipe for a pummeling as soon as it gets strong the carry traders and hedge funds pile in short again
Who knows if the BOJ will jump in like they did a couple of years ago. Besides that i think this pair should be traded very careful. Everything is set to a huge acceleration if the "hedge funds guys" panic and start to unwiding the carry trades exponentially, so, who knows, we can have 300 pips days like we had in august...