CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Shows Bullish Technicals
Posted: Thursday, July 23, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $106.35. So far FXY has hit a 52-week low of $90.15 and 52-week high of $114.61. FXY has been showing support around 105.62 and resistance in the 106.94 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 Sep '09 106 covered call (GDW IB) for a net debit in the $103.90 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 2.30% downside protection and a 2.02% assigned return rate for a 12.72% 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]
CLICK HERE: FREE (FXY) Stock ReportSee what our analysts have uncovered about (FXY).