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The chart was extracted from a note dubbed "Sticking With Our Yen Short" issued to Risk Manager Subscribers on  September 15, 2010 at 3:35pm ET.

EXCERPT:

We aren’t short the yen purely based upon the catalyst provided by the current batch of Fiat Fools leading Japan. We think the top in the yen is around yesterday’s pre-intervention level of 82-83 per dollar and we see downside on a 3-6 month go-forward basis around 6-9%.

The reasons for our bearish stance are: the potential for both waning upward Chinese pressure on the yen and U.S. dollar stability.

CHART: Sticking with our Yen Short - chart1

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