As I've mentioned it as an interesting opportunity to come (perhaps even this year), I am going to check in regularly on the performance of the Japanese Yen, using FXY as a proxy. (For those interested in how the ETF price correlates to the dollar exchange rate, it is roughly 1/exchange rate * 10,000.) While the reason to get short the Yen is purely about fundamentals, the chart can still be used to keep track of changing sentiment.
Currently, the FXY is dancing around 128, which has provided mild resistance to the upside. But the level I am focused on is 126, having served as resistance, and then support, since last March. A break below is not catastrophic, but it might signal the start of a more bearish trend.
Anyway, enough for now.
