Did you notice the heavy put buying on Friday. There was also buying on FXF puts (Swiss) before the peg. Someone must know something. Over 1,000 contracts on the $125. This has not happened for a long time. Hopefully, it's more than just speculation.
I truly hope so too. I have some puts closing this week and while not a lot of money to lose, will still hurt, given all that is going on.
Many analysts cling to the wrong notion IMHO, that Yen does not need to adjust against USD as Japan's trade ratio to US is now much lower than before.
But with Euro sliding against the USD, Yen's strength seems specially ominous against USD for Japan, even though Japan USD trades have been sliding. Yen > USD > Euro, makes Yen more valuable against Euro, so even an adjustment of Yen against USD should help the Yen <=> Euro ratio. And given USD's strength, there is a good back drop to do so now.