Citi on the scope for BoJ and SNB intervention.

"CitiFX Strategy is watching 160 levels in USDJPY while a SNB statement overnight reminded that they are "ready to be active in FX markets". However, our JPY options trader says trade weighted yen is nowhere near the lows we've seen last few round of intervention so the bar may be higher than current USDJPY levels," Citi notes.

"CitiFX daily flows data confirms USD longs are building after bottoming in Sep. However overall USD CFPI is nowhere near extreme levels (3.4 on a scale of +/-10 as of yesterday) and CTAs are already max long USD," Citi adds.