File image of Sanae Takaichi. Source: UN DDR. Licensing CC 2.0.

The sell Japan trade is here, with the yen proving the cleanest expression.

Concerns continue to mount about plans to grow Japan's huge debt pile amidst fears that the new government of Sanae Takaichi will clip the Bank of Japan's wings.

"The honeymoon is over for new PM Sanae Takaichi as investors begin to assess the policy shift under her leadership," says Valentin Marinov, head of FX strategy and research at Crédit Agricole.

The Yen is printing fresh all-time lows against the euro and could soon fall to its lowest levels ever against the pound.

The dollar is advancing, pushing USD/JPY above 156 on Thursday, placing just below the January peaks at 158.

"The Japanese yen continues to be undermined by fiscal concerns and

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