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FXY (Yen) Poised to Rally

FXY (Japanese Yen Trust ETP) looks poised to rally on a breakout above both this descending price channel (yellow lines) and the white downtrend line. Horizontal lines mark potential price targets. FXY, YCL (2x long Yen) or possibly a YCS (2x short Yen) may be added as official trade ideas soon. Until then, I just wanted to pass this setup along for any currency traders that might be interested.

FXY daily July 8th

FXY daily July 8th

Jul 8, 2015 1:21pm|Categories: Forex (Currencies)|Tags: , |Comments Off on FXY (Yen) Poised to Rally