CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Support Down To $104.07
Posted: Tuesday, July 28, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (NYSE: FXY) closed yesterday at $104.42. 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 104.07 and resistance in the 104.73 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 Dec '09 104 covered call (FXY LZ) for a net debit in the $100.92 area. That is also the break even stock price for this trade. This covered call has a 144 day duration, provides 3.35% downside protection and a 3.05% assigned return rate for a 7.74% 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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