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Trade of the Day: PowerShares Japanese Yen ETF (FXY)

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To receive further updates on this PowerShares Japanese Yen ETF (NYSEARCA:FXY) trade as well as an alert when it’s time to take profits, sign up for a risk-free trial of SlingShot Trader today.

Today, we’re opening a new bullish trade on the PowerShares Japanese Yen ETF (NYSEARCA:FXY).

The emergency rate-hike in Turkey may have encouraged some investors, but we think the flight into certain safe-havens will continue as the lira falls and threatens to hurt the European stock and bond markets.

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Therefore, we are using the Yen to take advantage of the geopolitical risks posed by Turkey. The yen rises in value when trade concerns and currency devaluations appear. This should put these calls in a good position as investors look to hedge some of the unknowns in the market right now.

‘Buy to open’ the FXY July 87 Call (FXY180720C00087000) for a maximum price of $1.20.

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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered Market Technician (CMT) designees, are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by clicking here.

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