Now that BoJ has decided to implement NIR like ECB, this ensures it's now safe to short the yen. So another long term play is selling yens until BoJ comes out with another bazooka to change this devaluation stance.
Best play will be long USDJPY as yen funds rush into USD.
Btw this BoJ move is a nasty curveball for chingland. Another round of yuan devaluation is now very likely.
If the fed hikes rates in March the bottom will definitely be blown into pieces as the USD strength rips the markets apart!
But this strong USD will also be a problem for US. An epic bubble will form as it sucks in capital from everywhere. That bubble pop will definitely shake the global economy. A new reserve currency will emerge then during that chaotic pop.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!