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CurrencyShares Japanese Yen Trust Crosses Below its 10-day MA (FXY)

By Amy Schwartz

Today, shares of CurrencyShares Japanese Yen Trust (NYSE:FXY) have crossed bearishly below their 10-day moving average of $93.61 on a volume of 119K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, CurrencyShares Japanese Yen Trust share prices have been bracketed by a low of $92.75 and a high of $111.21 and are now at $93.45, 1% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of CurrencyShares Japanese Yen Trust on November 12th, 2013 by issuing a Downtrend alert when the shares were trading at $98.12. Since that call, shares of CurrencyShares Japanese Yen Trust have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses currencyshares japanese yen trust

Ticker(s): FXY