This is a 24 hour chart of the yen (access here, 2 months bonus):
FXY, the ETF, was down 4% in pre-market earliet today, after a massive coordinated intervention of central banks (these moves never last by the way). A 4% move is simply massive for currencies.
Investors can greatly profit from these volatile moves with straddles or options. These are our FXY straddles from 2 days ago, returning +326% for March and +144% for April (from our online StraddlesCalc tool):
Note that the moves required, as indicated by the tool, were 1.22% and 2.67%. What happened was about 4%!
Currently I only hold FXY 120 puts. Yesterday, they were trading at $0.78. We shall see today.