Attached is a daily chart of March Japanese Yen.
The move lower has been staggering, dramatic and probably appropriate. However, moves like this never go on perpetually and the bear market rallies tend to be quick and vicious. The 15% decline since Nov 9th has convinced me that it is time to take a low risk shot at the upside. This is a stark deviation from my normal style and not sure I would expect sane people to follow me in. If I was taking this shot (and i did) I would look at the JYH3 113 calls for 17 ticks...those calls have until March 8th to perform. 17 ticks (or $212.50) is the exposure for 1 JYH3 contract.