Japan 10y yields rise, Investors start closing carry tradesEUR/JPYOANDA:EURJPYqueI see a situation in the coming days that the yen will have to carry the day, as it serves as a gauge of risk appetite. The Market Mood is on a Risk-off (fear), due to the current situation we are in, which is pure panic, meaning the yen pairs will have to strengthen. When markets shake Japanese funds repatriate capital, selling foreign assets and converting money back to yen, which strengthens the jpy very quickly. Big funds believe that global risk is weakening,Japanese yields might rise, and carry trades are crowded. Then institutions start distributing positions quietly near the top. Wait for a retest, around the 184 area, then dump with the big players If the carry unwind really gains momentum, my next magnets below will be my target roughly: 178 175 172 Those are zones where large liquidity pockets tend to sit.