01/21/1999 6:10 AM

On the Frenzied Forex Front

March Japanese-Yen recommended position Short at 8847

Support is at 8871 then 8855, below that buyers should appear near 8742 where traders should buy for a good bounce, risk a close under 8734 for three days in a row.

Resistance is at 8934 to 8964. Above that sellers should appear 9019 and

near 9044 to 9060. Traders can go short at 9044, risk a close over 9060 for two days in a row.

Support is at 5912 then 5899 and 5855.

Traders can buy at 5865 for a good bounce, initially risk a close under 5855 for three days in a row.

Resistance is at 5949 to 5954. A close over augurs for a test of 5999 and 6023 to 6035. Traders can go short for a quick turn lower at 6022, risk a close over 6042 for three days in a row.

Support is at 7247 to 7242 and 7207. Day traders can buy at 7247 for turn higher. Below that support should appear near 7197 to 7170, traders can go long at 7170 and hold for higher prices.

Resistance is at 7266 then 7297. Above that resistance is near 7328 to 7342 and 7366.

Support is at 1.6420 and 1.6308. Traders can go long at 1.6420, for a turn higher risk a close under 1.6286 for two days in a row.

Resistance is at 1.6550, an extended trade over 1.6640 indicates a likely test of 1.6720.

Support should appear at 6548 and 6529. Below that support should appear near 6505

Resistance is at 6577 to 6591 and 6605. Beyond that sellers should appear near 6627 and 6657. Traders can short at 6627 for a good turn lower, risk a close over 6677 for three days in a row.

Traders should go short if a close under 6519 occurs.

Support is near 287, below that 282 should hold.

Resistance is near 290.5 and 294.3.

Support is at 6605 and 6575. Below that Buyers should surface near 6510 to 6480.

Traders can go long at 6510 and hold for higher prices.

Resistance is at 6675 and 6740 to 6755. A close over 6755 indicates a test of 6865 to 6920. Beyond that resistance is near 7035 and 7070 to 7085. Traders can go short for a turn lower at 7035, risk as close over 7090 for three days in a row. Beyond that 7140 to 7170 offers resistance.

Support should appear near 351. and 349.5 below that 343.1 should bring out

buyers. Below that 340.4 offers support and should contain a break.

Resistance is at 361 to 362. However a close over 359.5 is friendly and indicates a test of 365.1 and 372.

Traders should go long if a close over 359.5 occurs, risks a close back under 349.

On the DownSide: Nearby Support is at 511 and 506.8 Below that good buyers should appear near 496 and 480.5. Traders should buy at 485.5, risk a close under 480 for three days in a row.

On the Upside. Resistance is at 519.5 to 521, a close over 521 is friendly and

augurs for a likely test of the 531 region. Beyond that good sellers should appear

near 541. Beyond that 555 to 560 should stop a rally for a bit. Traders should go long if a close over 521 occurs. Buy Dips...

Nearby Support is at 1194 and 1169 to 1164 where it should hold.

However a close under 1165 augurs for a slip to the 1142 to 1130

region. Traders can go long at 1142, risk a close under 1101 for three days in a row.

Early Resistance is at 1215 to 1219. A close over 1219 augurs for a test of the 1268 to 1274 region and most likely 1304 to 1319 then 1334 to 1346.

Traders should go long if a close over 1240 occurs.

Trade Accordingly

Support is at 3503 to 3493. Below that support is at 3420. Under that the 3365 to 3325 region should hold.

Resistance is at 3595 and 3620, beyond that resistance is at 3695. A close over 3745 is friendly and augurs for an eventual test of the 3850 to 3865 region.

Support is at 3192. Below that 3140 and 3035 offer support.

Resistance is at 3245, a close over augurs for a test of 3359. A close over 3359 augurs for a test of 3490 to 3503 and most likely the 3613 /3623 region.

Trade Accordingly.

Support is at 525, day traders can buy at 526 for a bounce, risk 5 cents. Below that 518 should contain a break. Under that Traders can go long at 514 for a turn higher, risk a close under 505 1/2 for three days in a row

Resistance is at 532. A close over 532 is friendly and augurs for a test of 539.

Support is at 129.4, below that 127.4 to 126.8 should hold. Traders can buy at 127.4 and hold for higher prices.

Resistance is at 133.5 to 134.6, a close over indicates a test of 137.7 to 138.3. traders can go long if a close over 134.6 occurs. Risk a close under 133.4 for two days in a row.

Resistance is at 2365 then 2379, Traders can go short at 2379 for a turn lower, risk a close over 2419 for three days in a row. Beyond that resistance is at 2461 to 2469.

Support at 212 and 211 1/2 then 207.

Resistance is at 216 3/4 and 221 1/4 to 222 3/4. Traders can go short at 221 3/4 for a quick turn lower, risk a close over 227 3/4 beyond that a test of 231 1/2 is likely.

Support is at 269. Below that 265 to 262 offers support and should bring out buyers

Resistance is at 275 1/2, a close over augurs for a test of the 281 3/4

Resistance should appear near 5955 and 6023 to 6040. A close over 6040 augurs for a test of 6098 to 6113 then 6140 and eventually the 6165 to 6195 region.

Support is at 5898. Below that 5865 to 5855 should hold.

Under that 5805 to 5792 should contain the decline for a bit.

Traders should go long if a close over 6023 occurs.

Support is at 735 to 731

Resistance is at 763 and 768

On the downside, 105.80 to 105.50 and 104.80 which offers good support as does 103.60 to 103.20. Hearty traders should go long at 103.75 and hold for higher prices.

On the Upside, Resistance should appear near 106.80 then 107.40 and 107.95. A close over 107.95 is friendly and augurs for a test of 109.20 to 110.10.

Nearby Support is at 1336 and 1319 to 1304. Traders can buy at 1319 for a turn higher, risk a close under 1304 for three days in a row. Below that 1290 to 1286 offers support. Resistance is at 1359, aggressive traders can sell at 1359, risk a close over 1365. Above that resistance is at 1377 to 1386.

Resistance is at 6602 then 6627 and 6677. Traders can sell at 6672 for a quick turn lower. Risk a close over 6757 for two days in a row

Nearby Support is at 6527 and 6522 to 6492, traders can buy at 6522 for a good turn higher, risk a close under 6477 for three days in a row. Below that 6432 should hold, traders can buy at 6432 for a good bounce, initially plan on risking a close under 6427 for two days in a row.

Support is at 4042 then 3982, day traders can buy at 3982 for a good bounce, risk 50 pts.

Resistance is at 4087 then 4182. Beyond that sellers should appear near 4237.

Resistance is at 4357 to 4377. Traders can sell at 4352 for a quick turn lower, risk a close over 4367 for two days in a row. Above that resistance is at 4447 and 4482.

Beyond that 4527 should cap a rally. Support is at 4322 and 4282 , below that 4177 should hold.

Nearby Support should appear near 5597 then 5512 and 5447 to 5402

Resistance is at 5702 and 5747 beyond that good sellers should appear near 5812 and 5897.

On The DownSide, nearby support is at 126-05, a close under 126-04 augurs for a test of the 125-05 to 124-20 region. Traders can buy at 125-04 for a good 2-3 day bounce, risk a close under 124-24 for three days in a row.

On the Upside: Resistance is at 126-25 and 127-06 beyond that resistance should appear near 128-04. Traders can go short at 128-05, risk a close over 128-12 for three days in a row.

On the DownSide, Nearby Support at 1267.10 and 1256.20 day traders can buy at 1256.30 for a quick bounce, put your own risk on it Below that support is at 1253 and 1251.10.

On the Upside, Resistance is at 1271 and 1274 then 1283.10 and 1288.20 to 1289.

Day traders should sell at 1288.20 for a turn lower ..Beyond that 1304 should Cap a Rally. Traders Who Have Ice Water Running Through Their Veins can go short at 1304 and hold for lower prices, initially plan on risking a close over 1311.5 for three days in a row..

Support is at 9331 and 9316 then 9232 and 9156 to 9140, a close under 9140 is negative and augurs for a test of the 9060 to 9044 region. Below that 9064 to 8934/ 8929 should hold.

Resistance is near 9429 to 9445/ 9448 and 9526 to 9542 beyond that 9618 to 9625. 9641 offers good resistance. A close over 9641 augurs for a test of 9707 to 9737. Above that, 9821 to 9837 should Cap a Rally for a bit..