Hedge funds turn bullish on yen for first time since July 2025, CFTC data show
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Rabobank | Bullish | 145.00 |
ING | Bullish | 152.00 |
MUFG | Bullish | 152.00 |
All 25 desk targets for USD/JPY
From the original
The new yen longs were built before a week that went against them, so a position squeeze is the near-term risk if the yen keeps sliding, especially with Tokyo closed for Silver Week and liquidity thin . Against that, any official action would now land on a market leaning the othe
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Yen stays weak after BoJ hike as analysts eye intervention risk
The Japanese yen remains weak despite the Bank of Japan's recent rate hike, highlighting a deeply entrenched bearish positioning among leveraged funds. As per the full note, analysts indicate that short exposure has significantly increased over the past month, elevating intervention risks as dollar/yen approaches critical levels around 161-162. This backdrop suggests a precarious environment for the yen, especially considering the ongoing carry trade dynamics. Although falling energy prices could provide some relief to Japan's import costs, they further boost global risk appetite, complicating the yen's recovery prospects.
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