Monday, July 16, 2007

The Japanese Yen Is Still In A Downtrend

Many of you have sent me emails asking if the Japanese yen has bottomed and in my opinion I just don't see it.

Technically the trend is still down and the Yen is also the weakest currency compared to the Swiss, B-Pound and Euro. I will say that the yen is chipping away at resistance but I see no reason to buy it. If the Yen has truly bottomed, there will be plenty of time to buy the pullbacks but for now I wouldn't touch it.

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