CurrencyShares Japanese Yen Trust (FXY) 10/22/09 PriceWatch Alert With Support Around $108.76

Posted: Thursday, October 22, 2009 8:38 AM EDT

CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $109.27. So far FXY has hit a 52-week low of $98.48 and 52-week high of $114.61. FXY has been showing support around 108.76 and resistance in the 109.58 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 '09 109 covered call (GDW LE) for a net debit in the $106.87 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 2.20% downside protection and a 1.99% assigned return rate for a 12.54% annualized return rate (comparison purposes only). [THA-Seven Summits Research]

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