JPY hits historic lows vs USD, EUR, and gold. Japan could be the first domino in a global selloff.

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THE GLOBAL COLLAPSE IS STARTING IN JAPAN

JPY-USD: ALL TIME LOW
JPY-EUR: ALL TIME LOW
JPY-GOLD: ALL TIME LOW

This is a WARNING. You don’t see this in a normal market.

Japan is the key domino.

When JPY slides like this, it hits the biggest trade on earth: the carry trade.
And when carry trades get squeezed, people start closing positions fast.

Here’s why you should care.

Japan holds about $1.2 TRILLION in US Treasuries.

So when the yen gets crushed, Japanese money often pulls risk back, hedges harder, and sells foreign assets to reduce exposure.

Selling US bonds pushes US rates even higher. Higher rates mean borrowing gets more expensive, liquidity gets tighter, and risk assets start choking.

Why this is GIGA BEARISH.

The cost of money has to go higher.

Refinancing gets more expensive.
Loans get tighter.
Leverage gets cleaned.
Then the charts look fine until they don’t.

And the order is always the same.

BONDS move first.
STOCKS react later.
CRYPTO gets the violent moves first.

If you’re ignoring this in 2026, you’re walking into the punch.

Most people watch charts.
Watch JPY because it’s the early warning.

I’ve studied macro for 10 years and I called almost every major market top, including the October BTC ATH.
Follow and turn notifications on. I’ll post the warning BEFORE it hits the headlines.