Speculators turn short USD/JPY for first time since October

Traders were betting over $5 billion on a rise in mid-Nov

Bet on yen rising emerges just ahead Dec 19 BOJ meeting

30% chance BOJ hikes in Dec, policy rate eyed 13bps higher by Jan 24

Risk averse backdrop may be adding to demand for yen

Shorts give cenbank less cause to intervene and heighten risk yen drops

There is nothing to restrain a USD/JPY rise favoured by techs/rate diffs