CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Bullish Price Movement

Posted: Thursday, December 11, 2008 8:07 AM EDT

CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $107.57. So far FXY has hit a 52-week low of $87.16 and 52-week high of $108.79. FXY has been showing support around 106.81 and resistance in the 108.19 range. Technical indicators are Bullish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '09 107 covered call (GDW CC) for a net debit in the $103.47 area. That is also the break even stock price for this trade. This covered call has a 100 day duration, provides 3.81% downside protection and a 3.41% assigned return rate for a 12.45% annualized return rate (comparison purposes only). [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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