Saturday, October 4, 2008
Japanese Yen Gains On The Euro
Since last July the Japanese Yen has been one of the strongest currencies when compared to the Swiss, Euro and British Pound. Above we have a chart which shows the relationship of the Yen vs. the Euro. You'll notice that the downtrend has been broken. This means that the Yen is now the stronger currency with the Euro being the weaker.
The top chart is a weekly chart of the Japanese Yen and in my opinion it looks like the Yen is getting ready for the next leg up. If you're bullish on foreign currencies, the one to buy would be the Yen.