As we all know, the goal of trading is to make money. But sometimes
traders think like analysts, and being right about a market's direction
overshadows the primary directive -- making money. So when the stock
market gives us fits and starts, and crosscurrents like emerging markets
and the Federal Reserve make equities treacherous, it makes sense to
look for other opportunities.
As
they say, there is always a bull market somewhere, and right now, it
looks as if the Japanese yen is in the early stages of one. And for
those who cannot or prefer not to trade spot currencies or futures, the CurrencyShares Japanese Yen Trust (NYSE: FXY) provides a liquid way to play.
I
will leave the fundamentals of the Japanese economy to others to
analyze. From a charting point of view, there is plenty to like, and
given the yen's status as a safe-haven currency, the turmoil in emerging
markets and volatility domestically add additional luster. (more)
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