Sunday, December 13, 1998
6:54:14 AM 

On the Frenzied Forex Front

March Japanese-Yen

Nearby Support is at 8683 and 8668 to 8653. Traders can buy at 8686, risk a close under 8653 for two days in a row. Below that support is at 8644 then 8589 to 8560. Below that traders can buy at 8499, risk a close under 84848 for three days in row.

Resistance is at 8751 and 8766 beyond that a pop to the 8752 to 8777 region is likely. Beyond that resistance is at 8856 to 8871. Above that sellers should appear at 8934 to 8963, traders can go short at 8934, risk a close over 8954 for three days in a row.

Early Support is at 6080, traders can buy at 6080, risk a close under 6060 for three days in a row. Below that support is at 6033 to 6023 and 6014. Day traders can buy at 6033 for a bounce,risk 35 pts. A close under 6023 augurs for a test of 5957 and 5945 where a decline should hold.

Resistance is at Support is at 6080. Traders can sell at 6108 for a turn lower, risk 30

pts. Beyond that resistance should appear near 6140 to 6161.

Trade Accordingly.

Nearby Support is at 7601 and 7587 and 7571 where an early decline this week should find buyers. Traders can buy at 7594, risk a close under 7587 for three days in a row. Below that 7562 and 7545 offer good support. A close under 7545 augurs for a test of 7513 to 7487. Traders can buy a 7513 for a good bounce. Risk 50 pts. Below that support is at 7487 and 7462 then 7428.

Early Resistance is at 7612. An extended trade over 7612 augurs for a test of 7652

to 7662 then 7675 to 7689 and 7712. A close over 7712 is friendly and indicates a test of 7745 and 7763 to 7777. Traders can sell at 7777 for a turn lower , risk a close over 7836. Trade Accordingly

Support is at 1.6720, day traders can buy at 1.6720 for a bounce, risk 100 pts. Below that support is at 1.6550 and 1.6420.

Resistance is at 1.6890 and 1.6960. Traders can sell at 1.6960, for a turn lower risk a close over 171.34.

Beyond that a trade to the 1.7310 / 17380 region is likely. Traders can sell at 1.7310 , risk a close over 1.7390 for three days in a row.

Support is at 6483. Traders can buy at 6484 for a turn higher risk a close under 6444 for three days in a row. Under that support is at 6430 to 6417 and 6350 to 6337.

Resistance is at 6541 an extended trade over 6541 is friendly and augurs for a test of 6577 to 6591. Beyond that resistance is at 6626. Trade accordingly.

Resistance is at 295.50 then 297.60, a close over 298 is friendly and augurs for an eventual test of 307.

Support is at 6570 and 6480 under that 6430 to 6415 should hold.

Resistance is at 6670 and 6840. Beyond that 6970 and 7055 offer resistance.

Support is at 347.60 and 342. 5 where it should hold basis the close. Traders can go long at 342.5 risk a close under 333.

Resistance is at 352.5 and 355.5. Traders should go long if a close over 355.5 occurs. Beyond that a test of 363.5 is likely.

On the DownSide: Support is at 474.5 and 472 Under that 458 to 457 should hold basis the close.

On the Upside. Resistance is at 482.5 and 487, a close over 487 is friendly for a test of 504 and eventually 516 to 523. Trade Accordingly.

Nearby Support is at 1130 then 1121 to 1118. Beneath that 1101 to 1096 should hold basis the close .. Traders can buy at 1118, risk a close under 1096 for two days in a row. Under that support is at 1068 to 1058.

Resistance is at 1143 then 1153 and 1164 to 1169. day traders can sell an early rally at 1168, risk 30 cents.

A close over 1171 is friendly

Support is at 3540 and 3475. Traders can buy at 3565, risk a close under 3470

for three days in a row. Below that support is at 3387 to 3370.

Resistance is at 3625 and 3680. Beyond that 3743 offers resistance. Traders can sell at 3743 for a quick turn lower, risk a close over 3806 for two days in a row.

Beyond that resistance is at 3858 to 3867.

Support is at 3267 and 3255, traders can buy at 3270 risk a close under 3190 for three days in a row. Below that support is at 3155 and 3102 to 3092.

Resistance is at 3340 and 3402.. Beyond that resistance is at 3467 to 3493. Traders can sell at 3493, for a quick turn lower, risk a close over 3565 for three days in a row.

Support is at 556 1/2 and 554 3/4 to 553. Below that support is at 541 1/4 and 539

Resistance is at the 559 1/2, close over 559 1/2 augurs for a test of 567 and 575 1/2

Traders should go long or add if a close over 559 1/2 occurs.

Support is at 144. and 142, below that 138 should hold.

Resistance is at 145.7 Beyond that good sellers should appear at 149.8 and the

152 To 154 region.

Support is at 2426 and 2419 to 2411 and 2396 where it should hold. A close under 2396 is negative and augurs for a test of 2383 and the 2370 to 2354 region.

Traders can buy at 2419 for a bounce, risk a close under 2390 for two days in a row.

Resistance is at 2444 then 2461 to 2469 Beyond that resistance is at 2511 to 2519 and 2526, traders can sell at 2526, risk a close over 2552 for three days in a row.

Support is at 223 3/4 and 222 1/4. Below that 219 to 218 should hold.

Traders can buy at 219 risk 5 cents.

Resistance is at 226 3/4 and 228 3/4, a close over 229 is friendly and augurs for a test of 234 beyond that resistance is at 242.

Support is at 272 1/2 and 269 1/2. A close under 269 1/2 is negative and augurs for a test of 266 1/2 and the 261 to 258 region.

Resistance is at 275 3/4 and 278 1/2. A close over 276 is friendly and indicates a t test of the 281 3/4 to 284 1/2 region. Beyond that resistance is at 290.

Traders should go long or add if a close over 276 occurs.

Resistance is 6200 and 6235. Beyond that resistance is at 6300. A close over 6320 is friendly and augurs for a test of 6410 and most likely 6510.

* Hearty Traders should go long if a close over 6190 occurs.

Support is at 6113 to 6101 and 6020 to 5990. Under that 5957 should hold basis the close.

Support is at 814 and the 803 to 795/ 791 regions. Traders can buy at 803, risk 15 pts. Below that support is 767 to 763.

Resistance is at 823 and 831, beyond that sellers should surface at 843 and 847 to 852. Traders can sell at 843, risk 20 pts. A close over 852 is friendly and augurs for a test of 877.

On the downside, Early support is at 115.00. Traders can buy at 115.00 for a good bounce, Below that support should appear near the 114.05 to 113.60 / 113.00

regions. Hearty Day traders can buy at 113.60, risk 150 pts. Below that support is at 112.70 and 111.55 to 111.10 where it should hold basis the close. Under that support is at 110.10 to 109.60. Where traders should buy at 109.60 and hold for higher prices.

On the Upside, Early Resistance should appear near the 116.40 to 116.90 region.

A close over 116.90 is friendly and indicates a test of 117.75 and eventually 119.20 to 120.30. A close over 120.30 is friendly and augurs for a test of 123.20 to 1234.80.

Buy Dips.

Resistance is at 1415 to 1421 and 1425 traders can sell an early rally at 1425 for a quick turn lower, risk a close over 1455. Beyond that sellers should appear near 1453 to 1459 and 1469 to 1475. Traders can sell at 1475 for a turn lower, risk a close over 1496 for three days in a row.

Resistance is at 5825 and 5857 then 5887. A close over 5887 augurs for a test of 5962 and 6097. Traders can sell at 6097, risk a close over 6182 for three days in a row.

Support is at 5812 and 5737 below that 5537 should hold. Traders can go long at 5577, risk a close under 5537 for three days in a row.

Resistance is at 2827 then 2872 to 2882 and 2917 then 2942 to 2957. Traders can sell at 2952, risk a close over 2992 for two days in a row. Beyond that resistance is at 3227, traders can sell at 3227 for a turn lower, risk a close over 3387 for two days in a row.

Support is at 2752, a close under 2752 augurs for a test of 2652 and 2522. Below that support is at 2412 and 2382. Traders can buy at 2380, risk a close under 2352 for three days in a row.

Resistance is at 3427 to 3447. Beyond that resistance is near the 3492 to 3507 region. An extended trade over or close over 3507 augurs for a test of 3742 to 3790.

Traders can add / go long for a turn higher if a close over 3507 occurs.

Support is at 3342 and 3292 to 3282. A close under 3257 is negative and augurs for a test of 3092. Traders can buy for a bounce at 3092 ,risk a close under 3032 for two days in a row.

Support should appear near 4162 and 4122 to 4107 below that 4092 to 4082 offer support. Under that 3982 should contain a decline. A close under 3982 is negative and augurs for a test of 3857 and 3747.

Resistance is at 4242. A close over 4242 indicates a test of 4382 to 4392. Which is more likely than not.. A close over 4447 is friendly and augurs for a test of 4512 to 4572. Beyond that 4717 offers resistance.

On The DownSide, nearby support is at 129-11, traders can buy an early dip at

129-12, for a bounce risk 20 pts. Below that 128-25 and 128-14 to 128-11 offers good support .Traders should buy at 128-15 for a good bounce, risk a close under 128-07 for two days in a row. Below that 127-22 to 127-12 should contain a break ...

On the Upside: Resistance is at 129-18 and 129-31 then 130-11 to 130-14. Traders can sell an early rally at 130-12 for a turn lower, risk 20 pts . Beyond that resistance is at 131-11 and 131-25.

Trade Accordingly.

On the DownSide, Nearby Support at 1173.90 and 1169. A slip under 1169 augurs for a test of 1167.70 /1167.50 and 1164 to 1162.70. Which again appears more likely than not. A close under 1162.50 is negative and augurs for an eventual test of the 1151.70/ 1150 region. Beneath that support is near 1142.50 and 1136 to 1130 region.

On the Upside, Resistance is at 1180.50 and 1183.70 Aggressive traders can sell at 1180.50 for a turn lower. Beyond that good sellers should surface at 1183.70, Traders can sell at 1183.70 for a turn lower. Beyond that resistance at 1192 to 1194.60 and 1197.50 to 1199.80 should bring out sellers. Day traders with Ice Water running through their veins should go short at 1197.50 and hold for lower prices.. Above that resistance is at 1203 and 1217.

Stay Tuned for SP500 Updates and Flashes.

Support is at 8777 to 8762. A close under 8672 is negative and augurs for a test of the 8683 to 8668 region then 8642. A close under 8642 augurs for a test of 8589 to 8560 where buyers should contain a decline.

Resistance should first appear at 8801 and 8842 to 8856/8871. Beyond that resistance is at 8934 to 8964 and 9044 to 9060 where sellers should cap a rally..