It's an interesting idea! However, I have my doubts regarding the possible strength of the Franc. There is enough pressure on the Yen to stall its downfall for a few days, but it should stay strong. The problem is with the swissy. It's been weak against most currencies for a while now. I mean really weak! What do you think could offer any resistance? Gold? Risk aversion? In both cases the Yen will react strongly too! Looking at M. js37473 chart, I would not jump in until it reaches 112.40, and I would not put a stop higher than 110.60. This imply that my position size would be small and I would aim for the long-term (two-three weeks at least). I don't make this kind of trade usually, so maybe I'm the one who is too careful... who knows?