Thursday, October 23, 2008

Forex - Japanese Yen Continues To Rally



The Japanese Yen continues to move higher making new multi year highs today. As far as the foreign currencies are concerned, the Japanese Yen is clearly the strongest currency when compared to the Euro, Swiss and B-Pound. I think we'll see continued strength in the Yen over the next few months. If you recall at the beginning of this month I turned bullish on the Japanese Yen based entirely on technicals. You can read that post from October 1st by clicking here.

2 comments:

RacerX said...

Is there an ETF to play the currency bounce?

Thanks Kevin.

-k

market folly said...

yup good call spotting that a while ago. been long the yen past few weeks as well. took some profits on the gap down today but expect the strength to continue as the deleveraging continues

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