CurrencyShares Japanese Yen Trust (FXY) 11/4/09 PriceWatch Alert Technicals Showing Bullish

Posted: Wednesday, November 04, 2009 8:22 AM EDT

CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $109.92. 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 109.45 and resistance in the 110.33 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 $105.82 area. That is also the break even stock price for this trade. This covered call has a 136 day duration, provides 3.73% downside protection and a 3.01% assigned return rate for an 8.07% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]

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