ETF CORNER

FXY : Yen to bounce soon !

The Yen is in crash mode vs the USD. I suspect there will be a bounce coming pretty soon near the $105 level on FXY.

This chart is seriously "ridiculously" oversold !

 

YCS : Double short Yen.

Based on this morning's post (Click Here) here is what we can be expecting for YCS (Double short FXY) in the intermediate term.

FXC,FXY : Canadian Yen !

Good morning kids, as i was looking at the current chart of FXY (Japanese Yen ETF) this morning i had that feeling of deja vu .... when i finally realized that this FXY chart I was looking looked all so similar to the CAD/USD chart or inverted FXC (Canadian dollar) in early 2008. I took the CAD/USD chart of 2008 and copied the current chart of FXY (Japanese Yen) right below it to show you how striking the comparison could be. If these comparisons hold true, then we could see a major fall in the FXY in months to come, i.e (a strengthening of USD dollar vis a vis Japanese Yen)... stay tuned!

FXY : Right Shoulder !

On the last post on FXY (Japanese Yen) the bounce I've been looking for at $108 has worked well (Click here) ! I am now anticipating a right shoulder between$110 and $111(max) before a much bigger plunge towards $106 .. and even $102-$103 in the much longer run !!