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6 pts

Opinion on  CurrencyShares Japanese Yen Trust (FXY)
Follow the Yen, but with caution...

Jan 23, 2009 12:12 AM GMT
Return Risk
-1.30% LOW
Analyst

Many currencies like to trend. In the case of the Yen the trend is up, however don't toss caution to the wind while getting on top of this band wagon. The BOJ has not yet shown a willingness to intervene, but when they do I suggest a quick exist. A likely stop-loss point is below 110. in the mean time try to capture the upward trend and retest of the highs as Japanese pensions repatriate money to Japan and drive the Yen up.

FXY:  This call was made on 01/23/09 @ $112.15
Rating:   Positive   $112.15 (01/23/09)
Closed:   02/07/2009 @ $108.51 (-3.25% in 15 days)
Target:   $116.00 (+3.43%) in One month


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