As the Yen traded and finished the week in a very tight consolidation, we are expecting a breakout. It literally is a guess as to which way the breakout will occur. It would not be wise to take a gamble. It is suggested to tighten up the stops on bullish positions should Yen break to the upside. Additionally, it is suggested to identify bearish opportunities in the even the Yen does in fact break to the upside which should cause equities to retrace.
What time frame are you watching? You cannot talk about a potential breakout without giving the time frame, it simply does not make sense.
On the 15 min chart, the USD/JPY is dancing inside an ascending channel. This is usually a bearish formation.