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Yen Rally is Short Selling Opportunity

The Japanese Yen has rallied more than 6.5% since the their finance minister, Katayama Yano announced Japan’s shift to a negative interest rate in their latest battle to destroy their currency and create external demand thus allowing them to finally achieve their expressed desire of 2% inflation year over year. The Yen fell initially on this news but the ensuing rally has been a bit puzzling. Based on the Japanese government’s actions and intentions, we’ll chalk this up to, “Don’t fight the (Japanese) Fed” and look for selling opportunities inline with major technical resistance and their government’s intentions.

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