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Yen Continues to Gain on Risk Aversion

Yen Continues to Gain on Risk Aversion

2010-05-20 13:46:00
John Rivera, Currency Analyst
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There is a clear bearish trend underway and that should continue to benefit the yen and the dollar. Therefore, I will maintain my short CAD/JPY position from yesterday which was triggered with the break of the 200-Day SMA at 86.97, and move down my stop to 85.00 to lock in profits. We could see a significant pull back following the sharp move lower, but downside potential exists to 82.00.

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