Steve Place over at Investing With Options has a great post on the USD/JPY pair and how you can trade it. Using technical analysis and implied volatility analysis, he points out a trend change in the pair and structures an optimal trade. Below are two things he addresses in his post:
While many other markets have been chopped up in ranges, a significant trend change is underway in the Japanese Yen.
Even though volatility has continued to decline in the stock, the implied volatility has stayed fairly elevated. Why is this?
His claims are addressed, question answered, and trade structured in his post located here: A Look into the Yen and How You Can Trade It