CurrencyShares Japanese Yen Trust (FXY)

[First Crown Research]

I'd be careful about FXY guys if you were planning on using it as a Yen short. The sponsor has an ability to close the fund at any time, and should the yen have a dramatic decline, the fund could be liquidated before any USD:JPY 350 scenario materializes. I inquired about it to the sponsor and didn't receive a word back, but they have closed funds tied to other currencies before, and should the sponsor not be able to service the fees associated with the fund, I would imagine they'd have an incentive to liquidate. Yen shorts are tricky for retail, especially ones's tied to ETFs.