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Strategies & Market Trends : The Rational Analyst

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To: HeyRainier who wrote (1182)	6/17/1998 2:57:00 PM
From: HeyRainier	Read Replies (1) of 1720

[ Off Topic: Currencies ] I guess I've recently been caught up more on following the Japanese Yen vs. the US Dollar. I was just speaking to a Japanese currency trader in London, and we were looking at the chart. Here's a vehicle that seems to respond very well to technical analysis. The channel boundaries (6/11/97 to 2/5/98 for the upper boundary, and the parallel of that matched to 1/5/98) were perfect guides to possible entry points on the Yen. The close and the penetration of the lower Bollinger Boundary coincided with the bottom Channel boundary, and immediately after that, the announcement came that the Yen would be propped. The recent 40% retracement from the decline matched closely with the 42% retracement in early 1998. It does seem that history repeats itself...to a degree. Regards, Rainier

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