Why now and why 110 yen?
There has been a lot of choppy behaviour based mostly on structural moves recently, and I think that this announcement will be enough to break it out of this state.
Buy now because this is at a pullback point following the initial post-announcement rally.
110 is for me a bit of a psychological point on this pair, as it hung around that point for a while on its descent earlier in the year. This for me is a good target.