103-104 seems to be the max target for USDJPY ... a brexitless view shows an almost perfect shs formation with a downside target at the bottom of the medium term channel. worth trying a short... except if boj starts further easing.
obviously boj is preparing something: http://www.bloomberg.com/news/videos/2016-08-29/the-jeopardy-japan-needs-to-work-its-way-out-of ... so don't be for too long on the short side...
You are correct. It depends on BOJ. In July they announced to increase their purchases fron 3.3 to 6 tril JPY...Till now their purchases were minimal, so it seems they are keeping their powder dry for whatever reason. I expect quit some time action from them.