CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Shows Bullish Technicals
Posted: Wednesday, July 29, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $105.11. 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 104.41 and resistance in the 106.05 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 '09 105 covered call (FXY LA) for a net debit in the $101.51 area. That is also the break even stock price for this trade. This covered call has a 143 day duration, provides 3.42% downside protection and a 3.44% assigned return rate for an 8.78% 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).