PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (520615)	1/7/2004 10:03:36 PM
From: Hope Praytochange	of 769667

<<I read something that if the dollar falls below 101 Yen>>> CURRENCY MARKET RECAP 1/7/2004 The Dollar opened moderately higher, possibly off ideas that the BOJ was in buying Greenbacks. We have to think that more intervention fears will be see in the action Thursday because the Yen continues to hover right at an upside breakout point. Since the foreign exchange markets haven't been tracking off economic reports we suspect that the near term focus will be almost exclusively determined by the BOJ! Technical Outlook YEN (MAR): The market's close above the 9-day moving average suggests the short-term trend remains positive. A new contract high was made on the rally. With the close higher than the pivot swing number, the market is in a slightly bullish posture. Swing resistance is targeted at 94.58 and above there at 94.79, with the yen finding support around 94.21 and below there at 94.05. Studies are showing positive momentum, but are now in overbought territory so some caution is warranted. The next upside target is 94.79. so much for the foreign exchange expertise from funeral/ambulance chaser lawyer............

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