I like to exchange prevent washouts. Often the price will breach a high or low by only several pips and then retrace quickly. The key to trading such as this would be to provide a time stop to the trade and get out if you're near breakeven.

Metatrader shows that the high on eurjpy reaches 159.00 and incedently round numbers can often substitute for high or lows. A short here with a stop of 20 pips and a three hour time cease wouldn't be poor play.