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March 27, 2008

The Ferrari of Carry Trades prepares to break out once again!

GBP/JPY (British pound vs. Japanese yen) attracts traders like stock traders used to chase after internet stocks.

This currency offers a high amount of interest paid out DAILY if you're a buyer of the pair. However, either direction that you trade the pair...it has huge swings.

Traders love these enormous swings that this currency has. Well it's just about to make another big push as it breaks out of its current range.

Get ready to hop on board once the pair closes a candle inside one of the boxes shown below. Then "hold onto your hat" and enjoy the ride. It's sure to be a volatile one. Don't trade this one if you have a weak heart. ha-ha.

Get ready to hop on the Pound Yen Train!
Gbp_jpy

Sean Hyman
Currency DIrector
The Sovereign Society

Posted at 05:34 PM in British Pound, Yen |

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