I sold half my position today 52.55. Don't want to be greedy. Yen has depreciated from 97 to 102 in 10 days. Thats enough, I think we pull back to 100 ,dragging J stock down with it . Then resume rally.
Economic statistic came out this morning are all weak. Jobless claims, housing starts, Philadelphia Fed manufacture down 5%. All bad numbers. Dip buyers and Cisco news is giving market a boost so far today. Maybe an afternoon sell off ?
I think tonight there is a major bond offering by the Japanese government, this may cause the yields on the 10 year to drop 0.15 and stay there fore a few weeks, and the Nikkei resume its ascent by a further 10-20% into July.
There is a good chance DXJ will resume its ascend within 24 hours.