BCA: The yen's "crowded short" isn't so crowded among our clients; 40% long, 33% neutral, 27% short in this week's poll. That fits our FX view: the yen bear market is in its late innings. Intervention slowed the trend, not reversed it, but accelerating inflation should force the BoJ's hand, giving patient investors a shot at the yen's asymmetric cheapness this winter.