The safer approach would be to stay on the sell side of UsdJpy and wait for the European fix to conclude before loading up too hard on Euro. I see UsdJpy continuing to pull up temporarily but on limited horizons and the opposite for Euro. It can change but the volume of calls to puts in Euro is very strong at present. Markets are apprehensive and picking little bets in stocks which is dousing enthusiasm. Nvidia will add a spark. This is where we start seeing hedging build to rebalance portfolios pre-Fed and it will continue for weeks.
