Yen Update

The Yen finally cracked.  The negative divergences in the Indicators became too much for the Yen.  The election pledge of Japan's new Prime Minister, Naoto Kan, to pursue competitive devaluation of their currency in a "Beggar thy Neighbor" policy move was enacted by the Bank of Japan on Wednesday.  Expectations of further currency competitive devaluations spiked the precious metals during the week.
  The Yen in hanging on the 50day ema, by a thread.  A break of the channel & the 50day opens the door to $112.50.

Yen

The Yen is starting to look heavy.  The most recent push up has not been confirmed by the Indicators.

Looking to get short the Yen at 119.5 with a stop just over 120.  Targets 112.5.