{
    "fund_name": "WisdomTree Short JPY Long USD",
    "type": "ETP",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": true,
    "complex_factors": [
        "Synthetic replication using swaps",
        "Inverse exposure to JPY/USD",
        "Unfunded swap structure",
        "Counterparty risk exposure"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex due to its synthetic replication method using unfunded swaps to achieve inverse exposure to JPY/USD. The KIID explicitly states it is 'not a simple product' and requires specific knowledge. The use of FX forward contracts and swap agreements creates counterparty risk, and the inverse nature of the strategy may be difficult for retail investors to fully understand. The PRIIPs KID also includes a comprehension warning, reinforcing the complexity assessment. While the product is fully collateralized and UCITS-eligible, the derivative-based structure and inverse exposure are key complexity indicators under MiFID II.",
    "confidence": 95
}