{"id":43942,"date":"2026-04-06T13:22:14","date_gmt":"2026-04-06T13:22:14","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/dbsten-philip-wee-piyasalar-getiri-destegine-ragmen-bojun-sikilasmasini-fiyatlarken-usd-jpy-160-civarinda-asiri-gerilmis-gorunuyor\/"},"modified":"2026-04-06T13:22:14","modified_gmt":"2026-04-06T13:22:14","slug":"dbsten-philip-wee-piyasalar-getiri-destegine-ragmen-bojun-sikilasmasini-fiyatlarken-usd-jpy-160-civarinda-asiri-gerilmis-gorunuyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/dbsten-philip-wee-piyasalar-getiri-destegine-ragmen-bojun-sikilasmasini-fiyatlarken-usd-jpy-160-civarinda-asiri-gerilmis-gorunuyor\/","title":{"rendered":"DBS\u2019ten Philip Wee: Piyasalar getiri deste\u011fine ra\u011fmen BoJ\u2019un s\u0131k\u0131la\u015fmas\u0131n\u0131 fiyatlarken USD\/JPY 160 civar\u0131nda a\u015f\u0131r\u0131 gerilmi\u015f g\u00f6r\u00fcn\u00fcyor"},"content":{"rendered":"USD\/JPY paritesi 160 seviyesine yakla\u015f\u0131rken \u201ca\u015f\u0131r\u0131 y\u00fckselmi\u015f\u201d (normalin \u00fczerine \u00e7\u0131km\u0131\u015f) g\u00f6r\u00fcl\u00fcyor. Japon karar al\u0131c\u0131lar 160 seviyesini \u201cac\u0131 e\u015fi\u011fi\u201d (ekonomi ve piyasalar i\u00e7in tahamm\u00fcl s\u0131n\u0131r\u0131) olarak de\u011ferlendiriyor. Kur, ABD ile Japonya aras\u0131ndaki faiz fark\u0131 (iki \u00fclkenin faizleri aras\u0131ndaki fark) sayesinde destek bulmaya devam ediyor.\n\nPiyasalar, Japonya Merkez Bankas\u0131\u2019n\u0131n (BoJ) 28 Nisan toplant\u0131s\u0131nda faiz art\u0131rma olas\u0131l\u0131\u011f\u0131n\u0131 %67 olarak fiyatl\u0131yor. Karar al\u0131c\u0131lar, yenin uzun s\u00fcre zay\u0131f kalmas\u0131n\u0131; hanehalk\u0131n\u0131n al\u0131m g\u00fcc\u00fcn\u00fc d\u00fc\u015f\u00fcren ve daha \u00e7ok maliyet art\u0131\u015flar\u0131ndan kaynaklanan enflasyon (fiyatlar\u0131n maliyetler nedeniyle y\u00fckselmesi) riski olarak g\u00f6r\u00fcyor.\n\n<h3>Yen Zay\u0131fl\u0131\u011f\u0131 Ve Politika Bask\u0131s\u0131<\/h3>\nJaponya\u2019n\u0131n Tankan Anketi (BoJ\u2019nin i\u015f d\u00fcnyas\u0131 g\u00fcvenini \u00f6l\u00e7en b\u00fcy\u00fck \u015firket anketi), enflasyon beklentileri (\u015firketlerin ve piyasan\u0131n gelecekte fiyatlar\u0131n ne kadar artaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnmesi) \u00fczerinden daha \u201c\u015fahin\u201d (daha s\u0131k\u0131 para politikas\u0131n\u0131 savunan) bir duru\u015fu destekliyor. Anket, \u015firketlerin ekonomiyi durgunlu\u011fa (resesyon: ekonomide daralma) itmeden 25 baz puanl\u0131k (0,25 puan) bir faiz art\u0131\u015f\u0131n\u0131 kald\u0131rabilece\u011fine i\u015faret ediyor.\n\n<h3>160 Seviyesi Etraf\u0131nda Pozisyon Alma<\/h3>\nBug\u00fcn USD\/JPY yeniden 158 civar\u0131na t\u0131rmanm\u0131\u015fken tablo tan\u0131d\u0131k. Japonya\u2019da \u00e7ekirdek T\u00dcFE (g\u0131da ve enerji gibi oynak kalemler \u00e7\u0131kar\u0131lm\u0131\u015f t\u00fcketici enflasyonu) %2 hedefinin \u00fczerinde kalmay\u0131 s\u00fcrd\u00fcr\u00fcyor; \u015eubat 2026\u2019da %2,4 seviyesinde ger\u00e7ekle\u015fti. Bu durum, politika faizi 0,25 gibi d\u00fc\u015f\u00fck bir d\u00fczeyde olsa da BoJ \u00fczerinde ad\u0131m atma bask\u0131s\u0131n\u0131 art\u0131r\u0131yor.\n\nT\u00fcrev \u00fcr\u00fcn (fiyat\u0131 d\u00f6viz kuru gibi bir varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler) i\u015flemi yapanlar a\u00e7\u0131s\u0131ndan bu ortam, 160 seviyesi etraf\u0131nda yeni bir dalgalanma (volatilite: fiyat\u0131n h\u0131zl\u0131 ve sert hareket etmesi) d\u00f6nemine haz\u0131rl\u0131k anlam\u0131na geliyor. Orta vadeli USD\/JPY \u201cput\u201d opsiyonu (kur d\u00fc\u015ferse kazand\u0131ran opsiyon) almak, olas\u0131 bir d\u00f6viz m\u00fcdahalesi (resmi kurumun kura do\u011frudan al\u0131m-sat\u0131mla m\u00fcdahalesi) veya BoJ\u2019den s\u00fcrpriz bir faiz art\u0131\u015f\u0131 durumunda kazan\u00e7 sa\u011flaman\u0131n do\u011frudan bir yolu. Nisan sonundaki BoJ toplant\u0131s\u0131 \u00f6ncesi artan \u201cima edilen volatilite\u201d (opsiyon fiyatlar\u0131n\u0131n i\u015faret etti\u011fi beklenen oynakl\u0131k) bu pozisyonlar\u0131 pahal\u0131la\u015ft\u0131rsa da a\u015fa\u011f\u0131 y\u00f6nl\u00fc sert bir hareket riski y\u00fcksek.\n\nAlternatif olarak, 160\u2019\u0131n g\u00fc\u00e7l\u00fc bir tavan (\u00fczerine \u00e7\u0131kmas\u0131 zor seviye) olaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnenler, \u201cout-of-the-money\u201d (\u015fu anki kura g\u00f6re k\u00e2rda olmayan) \u201ccall\u201d opsiyonlar\u0131n\u0131 (kur y\u00fckselirse kazand\u0131ran opsiyon) satmay\u0131 veya \u201cbear call spread\u201d (yukar\u0131 hareketten s\u0131n\u0131rl\u0131 kazan\u00e7 hedefleyen, iki call opsiyonuyla kurulan d\u00fc\u015f\u00fc\u015f y\u00f6nl\u00fc strateji) uygulamay\u0131 de\u011ferlendirebilir. Bu strateji, paritenin yukar\u0131 k\u0131ramamas\u0131 durumunda zaman ge\u00e7tik\u00e7e prim (opsiyon sat\u0131c\u0131s\u0131n\u0131n ald\u0131\u011f\u0131 \u00fccret) toplayarak kazan\u00e7 hedefler. Ancak bu yakla\u015f\u0131m y\u00fcksek risklidir; faiz fark\u0131 g\u00fc\u00e7l\u00fc kal\u0131r ve BoJ \u015fahinleri tatmin etmezse parite yine yukar\u0131 itilebilir.\n<p>\n\n<p><strong>Hemen i\u015flem yapmaya ba\u015flay\u0131n &#8211; Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>USD\/JPY 160\u2019a dayand\u0131: Japonya\u2019da \u201cac\u0131 e\u015fi\u011fi\u201d devrede. Faiz fark\u0131 y\u00fckseli\u015fi ta\u015f\u0131rken piyasa BoJ\u2019dan 28 Nisan\u2019da %67 faiz art\u0131\u015f\u0131 bekliyor; opsiyonlarda m\u00fcdahale\/\u015fahin s\u00fcrprize kar\u015f\u0131 volatilite t\u0131rman\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-43942","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/43942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=43942"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/43942\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=43942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=43942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=43942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}