JP225 — Medium/Long-Term Bullish OutlookJapan 225 CFDFOREXCOM:JP225Leox_MarketsMy overall bias on JP225 remains bullish in the medium and long term. Japan's latest export data remains strong, with July exports rising 23.2% YoY to a record level, supported by strong demand from the U.S. and China. The weak yen also continues to support major Japanese exporters and overseas earnings. The broader Japanese equity trend remains strong, supported by corporate reforms, technology/AI investment and improving corporate profitability. COT: Large speculators remain net long JP225, with 5,021 long contracts versus 3,648 shorts. Positioning weakened during the latest week, but the overall speculative position is still bullish. Short-term volatility from BOJ tightening expectations and rising Japanese bond yields remains a risk, but my medium-/long-term narrative stays LONG.