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Strategies & Market Trends : January Effect 2003
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To: RockyBalboa who wrote (641)7/2/2003 3:29:35 PM
From: RockyBalboa   of 666
 
A silver lining on the Yen front... the japanese made it under 118 vs the dollar, and quite in sympathy the Bonds were dropped into their sudden bounce, likely by Japanese Investors who are spooked by the currency movements. There are some breakout tries to push the yen further below 118 now, so 1.1750 looks the next natural target. It is very hard on a dollar support line, originating at the May drop (115).
The EUR was a bit a punchball, sort of, with decent support. Perhaps now after this has been overcome, the elevator is underway to the next floor, or two.
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