CurrencyShares Japanese Yen Trust (PCX: FXY) closed yesterday at $102.20. So far FXY has hit a 52-week low of $90.15 and 52-week high of $114.61. FXY has been showing support around 101.49 and resistance in the 102.91 range. Technical indicators are Bearish. FXY appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Jun '09 102 covered call (FXY FX) for a net debit in the $98.30 area. That is also the break even stock price for this trade. This covered call has a 109 day duration, provides 3.82% downside protection and a 3.76% assigned return rate for a 12.60% annualized return rate (comparison purposes only). [For more information on these strategies along with more details on possible risks go to

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