Today the Bank of Japan took action to push the Yen down. They don’t like the way the strong yen has reduced their economic competitiveness. It is reported to be action by them alone (not coordinated with other central banks) but it has clearly had an impact.
Notice that the last day is a whole lot lower than the others… (Click on the graph for a larger more readable version)
That’s what a central bank intervention looks like.
So at this point, I’d step out of the Yen. The central banks are taking action with it, so you don’t know what will happen day to day. Metals or Swiss Francs for now for any ‘avoid the dollar’ trade (though currencies like the Aussie FXA are also doing well)
Yes, you could use Euros or British Pounds. But those folks have not been all that good at maintaining currency values either…