The recent surge in the Japanese yen and the decline in the Nasdaq and Bitcoin prices may be coming to an end. Speculative bets on the yen have reached a record high, suggesting a potential reversal in price. Additionally, Morgan Stanley's G10 FX Strategy team believes that the yen's strength may be limited as Japanese investors are interested in buying foreign assets during market downturns. If history repeats itself, traders may start to sell the yen and invest in riskier assets like Bitcoin and the Nasdaq. Currently, Bitcoin is experiencing a slight decline but has seen a significant increase in trading volume. The Bollinger Bands indicate that Bitcoin may be oversold, suggesting a potential rebound. However, the 20-day EMA could act as resistance if Bitcoin tries to rebound, but if it breaks above this level, it could make a run towards the upper Bollinger Band limit.



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