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Strategies & Market Trends : News Links and Chart Links
SPXL 224.20+0.7%4:00 PM EST
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To: Les H who wrote (5803)2/15/2003 10:18:07 AM
From: oldirtybastard  Read Replies (2) of 29595
 
Traders say a crucial goal of the intervention was to prevent the dollar from falling below 115 yen, given a break below that level would form a chart pattern known in the market as a "head-and-shoulders" formation.

Such a pattern would signal a major reversal of the dollar's rise to January 2002 peaks around 135 yen, and Japanese authorities have made little secret of their concern that a sharp rise in the yen would sidetrack Japan's export-driven economic recovery.

ROFLMAO those morons are trying to make the chart pictures pretty
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