There has been talk about the strength of Yen against major currencies.
Yen USD cross rate has reached multi-year high in recent times.
The Friday disappointing US payroll number didn't help and USD plunged sharply against Yen in early trade.
One thing investor can take cue of is the strength of Yen is more owing to weakness of US economy rather than underlying strength in Japanese economy.
With record high public debt, it is very difficult to imagine a strong Yen relating to a booming economy.
Many savvy experts recommend this a good time to short yen as a long term play due to the weak economic fundamental.
My inner trade has told me that further upside of Yen to USD is limited. A gradual short postion on Yen does not appear a bad strategy.
However, bear in mind that this trade may take some time before it pays off as USD isn't the most desirable currency of the globe right now.
Trade wisely
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