Traders are increasingly betting against the Japanese yen, signaling a potential repeat of the yen carry trade unwind that occurred earlier this year. This trend is developing ahead of the Bank of Japan's upcoming monetary policy meeting, where another interest rate hike similar to the one implemented in August could prompt a significant market reversal. Analysts are closely monitoring these developments, with some suggesting that the current positioning may indicate a shift towards buying the yen, depending on the outcomes of the BOJ meeting.