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Politics : Idea Of The Day
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To: oexplayer who wrote (22575)1/14/1999 3:40:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
I think 50 days and 200 days moving averages are like 'iron virginity lock' on JPN index, nice to see that lower end of this iron lock was breached today as 13700 is a resistance I will like to think that with intervention we may see $/Yen at 118 level which is a comfortable levels where market can breach the 14200 resistance for an onwarnd assault to 15000 level, a second close is a must above 13700 level I was looking at this close the most important the market closed at the highest point of the day and that means a lot after brazil saga and most of the ASEAN market hammered expecting the worst but like last time Yen is not at 155 and at 108 test ASEA was dancing with pleasure neither we have a threat to Yuan as Yen has strengthened a lot from days when at 155 it was threatening Chinese exports and choking ASEAN trade.. Regards... and thanks... I hope you must have done well as JPN was at a discount of 50 when I placed my bounce back trade exactly thinking along your lines...
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