Options traders…
I chose the FXY puts since they were far cheaper than the YCS calls.
For less than half the premium you get a measured look (You know how much you can lose) at the downside in the YEN.
This gives you a 2 week look and I doubt you’ll risk half the premium.
Cash & Futures traders should not risk more than last night’s Yen High or Dollar Low to see if
the Yen can weaken. ( 120.55 USD/JPY) app 82.95 JYAH.
Seasonally I like to wait into next week to get active in the currencies which means you need to trade this very tight.
Equity weakness this afternoon will have me cancel the Cash & Futures part of the trade and just be content with the directional bet in the ETF Options.