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 !!
Well well well ... I don't post on FXY (Currency Japanese Yen) too often ! The last post was on June 16 th (Click Here) where i had a bullish view on FXY !! My target back then was around $112-$113 ! Suffice to say that the target has been reached ! Now frankly, I'm really starting to think the opposite : I am going to start leaning Bearish ! FXY is going to produce a downside reversal in coming week or two ! My next target for early 2010 is ... (drums please) $102 !! I suggest looking to buy YCS (Double short FXY) in the short term. For those who hold YCL(Double long FXY)it's time to be smart a book some profits !!!
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