JP Morgan says to be long yen against USD and the euro

JPM have a one to six month time horizon on the trade

• which they cast as a 'tactical' trade

Recommend being long yen against shorts in USD and EUR

Interestingly is the threat of currency intervention hanging over USD/JPY now if it drops, this from yesterday:

• Japanese Prime Minister Sugua has painted a target on USD/JPY - don't let it fall under 100