USD/JPY has risen 140-150 while traders short

FX losses supplemented by losses due to big rate differentials

Gap between US and Japanese int rate is more than 4.5%

A gap circa 3% still likely at start 2026

Those short are assured of int rate loses over the long-term

Strong resistance nearby 100-DMA 150.77, 200-DMA 151.34, cloud top 150.70

Daily cloud twists toward 145 in mid-Nov - twists attract

Shorts initiated near 150 offer good risk reward - 3 or 4 to one

FX traders may have run into bull trap nL1N3LX06O