Thursday, March 17, 2011

The Japanese Yen

I don't mention plays in the currency market often, but I must talk about the Yen. The Japanese currency made new all times highs last night and is setting up for a nice short. Also of note, is that the Yen is at a multi-decade double top. That combined with terrible fundamentals make for a low risk entry to the short side. I think there is an opportunity to sell rallies in the Yen for the next decade.

I will add additional fundamental analysis soon to support this...

1 comment:

  1. If you shorted the Yen or bought the YCS (an ultra short ETF that bets against the Yen), now is a good time to take profits. YCS up almost 15% this morning (since I posted this Yen Alert) and has found some resistance at the 200 Day MA...

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