CurrencyShares Japanese Yen Trust (FXY) PriceWatch Alert Bearish Price Movement
Posted: Wednesday, August 12, 2009 8:20 AM EDT
By: Market Intelligence Center Staff
CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $103.62. 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 102.89 and resistance in the 104.15 range. Technical indicators are Bearish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Dec '09 103 covered call (FXY LY) for a net debit in the $100.02 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 3.47% downside protection and a 2.98% assigned return rate for an 8.43% 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).