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The yen (FXY) resumes its bear market, tumbling 1% vs. the dollar to its weakest level...

The yen (FXY) resumes its bear market, tumbling 1% vs. the dollar to its weakest level since 2009 - the dollar now buying ¥95.74. The Nikkei responds, gaining 2.6% overnight, also to levels not seen since 2009. EWJ - unhedged against the currency - up just 0.3% premarket. Keep an eye on DXJ for the big movement today.
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Comments (1)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    USDJPY eclipsed 96.5 in this last session, where plenty took interim profits, including me. Is there more to this trade? Next objective is 100, which I think is possible given historical values and momentum. Buy on dips.
    8 Mar 2013, 02:57 PM Reply Like
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