From my analysis, JPY is ready to fall and couple of currency pairs could gain while yen is taking its bite. Currency pairs to watch include: EURJPY, NZDJPY & GBPJPY. CHFJPY has led the pack already, but a pullback to support might not be a bad trade either.
My 2 targets entries for EURJPY are 121.920 and 121.360 with a stop loss placed 10 pips below June 3 low. Initial Risk/Reward is up to 1:3.