Japanese yen
Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
Historical research, not a current entry recommendation. A retired thesis does not imply an executed paper exit.
Archived expression
Long CME December 2026 yen · 6JZ26
BOJ 1.25% was delivered, effective September 24, without durable post-decision yen demand. September 15 leveraged funds were already net long 23,170. Current normalized Sunday quote/clock/roll are not jointly verified. An unclocked 0.006414 illustration gives about −$151.50 after modeled carry/friction; not a current forecast. Reopen only a fresh post-September 24 demand thesis with independently verified March economics.
The dated record
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Retired research — Avoid old post-BOJ squeeze; resolve by demotion, not reversal.
- Wait — economics unresolved — BOJ normalization is real but was already reviewed; leveraged funds had switched to net long before that decision. The simple squeeze mechanism has less remaining fuel, while U.S. restriction and imported-energy costs remain adverse channels. Durable post-decision demand is not established. Quote-unit uncertainty is an additional data problem, not the reason for the inconclusive economic judgment.
- Wait; BOJ outcome supports normalization, entry edge remains unproven — Normalization is confirmed; the prior pending-decision label is retired, but no yen entry is qualified.
- Wait for the actual BOJ decision; long-yen confidence remains conditional — CPI gives a mixed pre-BOJ signal; the decision and verified yen units are still required.
- Hold research thesis; no add; Wait for BOJ and quote-unit confirmation — Long-yen thesis survives with lower confidence pending Japan CPI and BOJ.
- Hold research thesis; no add above entry band; Wait through FOMC and BOJ — Retain reduced-prominence yen research; no add.
- Hold research thesis; no add above entry band; Wait through FOMC/BOJ — Retain reduced-prominence yen research only; no paper holding or add.
- Hold research thesis; no add above entry band; Wait through FOMC/BOJ — Retain reduced-prominence yen research only; no paper holding or add.
- Hold research thesis; no add above the entry band — Retain reduced-prominence yen research only; no paper holding or add.
- Hold thesis; no add — Retain reduced-prominence yen research only; no paper holding or add.
- Hold thesis; no add — Retain reduced-prominence yen research only; no paper holding or add.
- Hold thesis; no add — Retain reduced-prominence yen research only; no paper holding or add.
- Hold thesis — BOJ normalization survives, but adopted positioning, imported-energy risk and an above-band Friday last argue against adding.
- Hold thesis — BOJ normalization survives, but opposing energy and haven channels plus an above-band Friday mark argue against adding.
- Hold thesis — BOJ normalization supports the yen, but post-cutoff energy risk and an already-priced rally argue against adding.
- Hold thesis — Structural yen thesis remains valid, but short covering and reportedly priced BOJ action reduce remaining fresh-entry asymmetry.
- Hold thesis — Structural yen thesis remains valid, but the rally and reportedly priced September BOJ move reduce fresh-entry asymmetry.
- Hold thesis — Conditional yen thesis survives, but hot U.S. PPI, energy-import risk and softer monthly Japanese producer/import inflation offset the cheaper mark. Hold research only.
- Hold thesis — Retain the research-held yen thesis without adding. Price is above the original band and Masu is inside one hour; reported potential domestic-flow retention is a mechanism, not measured new repatriation.
- Hold thesis — Japan revised Q2 GDP upward, but the annualized result missed the cited consensus and anticipated BOJ tightening is largely priced. Yen gained another 0.38%; retain the research thesis without adding or inventing a paper holding.
- Hold thesis — The yen thesis strengthened, but appreciation consumed remaining upside. Japan’s revised GDP was due 20 minutes after the monitor cutoff. The September 7 decision was to hold without adding and wait for the catalyst.
- Hold thesis — Retain the defensive macro thesis; anticipated BOJ tightening and currency demand support it, but current price is above the add band.