Hello, Haymakers:
The Japanese yen has been a repeated recommendation of this newsletter. Unfortunately, it hasn’t been a rewarding one, despite our high level of conviction in its attractiveness.
Five-Year Chart (Remember: Up is actually down)
Bloomberg
As you can see, it now takes 162 yen to buy one dollar. A key implication of this graphic is that the yen is in danger of breaking out to a new high, which would actually be a new low. Basically, this is concerning for yen bulls… like us.
Subscribe to Haymaker Dailies to read the rest.
Become a paying subscriber of Haymaker Dailies to get access to this post and other subscriber-only content.
Upgrade