Yen Bears Blink as ProShares UltraShort Yen Sees Sharp Outflows
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ProShares UltraShort Yen YCS recorded notable redemptions on January 23, 2026, with investors pulling approximately $2.62 million from the fund. The outflow represents about 6.7% of its roughly $39.1 million in assets under management (AUM), signaling a meaningful shift in sentiment toward the leveraged bet against Japan’s currency.
The latest move suggests that some traders are locking in profits or stepping back from aggressively shorting the yen after an extended period of dollar strength. With such a large share of AUM exiting in a single session, positioning in YCS appears to be cooling, at least in the short term, even as macro themes—ranging from Bank of Japan policy speculation to U.S. rate expectations—continue to dominate FX narratives.
The related asset, FX:USD-JPY, is currently trading around 153.685, up about 2.27% over the past three months. Despite the medium‑term uptrend in the dollar against the yen, the pair’s 1‑day technical signal screens as Sell, hinting at short-term corrective pressures or profit-taking after recent highs.
For a more detailed analysis and real-time sentiment trends, check the live currency exchange rates here.