For those of you, like me, who are keen on having two bites at the cherry, the EUR/JPY pair offers good opportunities for the carry trade. With a lend rate of 0.8% and a borrow rate of 3.9% , a buy order will yield 1.14 USD on each 24 hour period. These figures are courtesy of Oanda, where I have one of my trading accounts. They are one of the few brokers (in fact the only one I know of ) who offer interest payments on a second by second basis, along with interest on your account balance.
All the charts show a strong uptrend, and after moving sideways through April and May have now broken out into new high ground. Currently at 165.54, the pair look good for a carry trade, but be careful – after such a long run upwards, there is bound to be a pullback at some point, so watch out for the warning signs in all timeframes.