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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (20485)7/19/1999 7:29:00 PM
From: Zardoz  Read Replies (2) | Respond to of 99985
 
heinz, part of the desire of the Yen is the fact that the BOJ is intervening. If at 115 it's a fair price, wouldn't you buy it at 120. Even a 1.67% {118 Yen} fair price can build up a tremendous pressure from those knowing the BOJ is defending a price target. And when the BOJ stops, then the currency will stabilize {with respect to economics} and all will be well. L Summers knows this, that's why he'd make those statements.

Hutch.
PS: I wouldn't touch the yen till it's 135. I don't see Japan recovering soon.



To: pater tenebrarum who wrote (20485)7/20/1999 12:14:00 PM
From: j.o.  Read Replies (1) | Respond to of 99985
 
Yep - and the Euro is running up while no one's looking. Last week we were trading close to 1.0150, and now we're trading 1.0420. Looks like we're breaking the downtrend if we make it above 1.045, and the recent squeeze to the downside smells of capitulation. Now the longs have been cleaned out, and I think we're headed higher.

Just my two cents...

j.o.


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