Attached is a daily chart of March Japanese Yen.
The move
lower has been staggering, dramatic and probably
appropriate. However, moves like this never go on perpetually and the
bear market rallies tend to be quick and vicious. The 15%
decline since Nov 9th has convinced me that it is time to take a
low risk shot at the upside. This is a stark deviation from my
normal style and not sure I would expect sane people to follow
me in. If I was taking this shot (and i did) I would look at
the JYH3 113 calls for 17 ticks...those calls have until March
8th to perform. 17 ticks (or $212.50) is the exposure for 1 JYH3 contract.
Jim