CurrencyShares Japanese Yen Trust (FXY) 10/29/09 PriceWatch Alert Shows Bullish Technicals

Posted: Thursday, October 29, 2009 8:06 AM EDT

CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $109.37. 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 108.62 and resistance in the 110.04 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 Mar '10 109 covered call (GDW CE) for a net debit in the $105.57 area. That is also the break even stock price for this trade. This covered call has a 142 day duration, provides 3.47% downside protection and a 3.25% assigned return rate for an 8.35% annualized return rate (comparison purposes only). [THA-Seven Summits Research]

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