Breakout in the CurrencyShares Japanese Yen Trust – FXY

I’ll admit that waking up to futures pointing down this morning surprised me. I won’t argue with the market. When the indexes turned ugly later in the day, I stood to the side. Followthrough is key tomorrow. If we get it, I’ll probably start focusing on shorting more. Next week is options expiration already. Big market players start as early as today positioning. Heck, a rally tomorrow wouldn’t shock me with this volatility.

Check out the volume on the breakout of FXY. FXY is the CurrencyShares Japanese Yen Trust.