Friday, May 1, 2009

Yen Check

A few charts to check up on the Yen. Since many currencies tend to move together against the yen I am comparing three that I find most interesting. To keep the Yen in focus, lets look at the yen in the numerator position.The numbers on the right are a little funky, it has to do with the way the indexes are calculated.

Yen vs. $US

Yen vs. Aussie Dollar

Yen vs. New Zealand Dollar

Where to from here? Probably not up. The 200 smas are interesting. If you were looking at $XAD:$XJY or $NZD:$XJY those 200 smas might not look quite as vulnerable. If the stock markets were to go through a rough spot again soon I dont know that the Aussie and Kiwi would hang in there as well as the $USD...but overall, over the summer I see the Yen remaining well below its February highs.