Everyone Betting Against The Yen Is Having A Bad Day

One of the hottest trades in the world is to short the Japanese yen on the premise that the new government and the new management at the Bank of Japan would engage in aggressive, yen-weakening easing.

And that's still the big plan, but for now the yen weakness has stalled a bit.

The yen is having a pretty strong day (which contributed to an ugly performance in the Nikkei).

Here's a look at dollar vs. yen over the last few days. You can see the dollar weakness today.

FinViz