Outrageous Predictions
Carry trade unwind brings USD/JPY to 100 and Japan’s next asset bubble
Charu Chanana
Chief Investment Strategist
Sales Trader
Yen at weakest since July 2024
Trade idea on USDJPY
Synthetic long (protected) 1 month with same strike 159.20 in anticipation of further upside momentum:

Risks
Max loss is substantial with mean-reversion risk given the 200-day moving average far below at 147.17, and Japan’s Ministry of Finance last intervened on 12 July 2024 when USDJPY hit an intraday high of 159.45. Additional leg with long put at 154 – December 2025 support area – can limit the downside.