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Morning Comments  January 29th 1999
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01/29/1999 5:45 AM

On the Frenzied Forex Front

March Japanese-Yen recommended position long at 8742

Support is at 8595 to 8589 and 8560. Traders should buy at 8575 and hold for higher prices.

Resistance is at 8656 and 8689 then 8737 to 8757 .

Support is at 5821. Day traders can buy with both hands at 5821 and hold for higher prices...Below that Support should be evident near 5805 to 5792 and 5729 to 5716 where traders can buy at 5729 and hold for higher prices.

Be long...

Resistance is at 5855 and 5872 a close over is friendly and augurs for a test of 5916 to 5918 where good sellers remain. Beyond that a test of 5942 is likely

Support is at 7088 to 7074 should continue to contain the break. Resistance is at 7137 to 7143 and 7157 where early sellers should appear, above that a trade to 7170 is likely. A close over 7137 is friendly and indicates a test 7214 then 7230 to 7242.

Support is at 1.6420 and 163.86 then 1.6250 Resistance is at 1.6550 then 1.6612

Support should appear at 6591 to 6577 and 6546 and 6509

Resistance is at 6627. Traders can short at 6627 for a good turn lower, risk a close over 6677 for three days in a row.

Support is near 287.3 and 285.30 where it should hold. Resistance is near 289.70 and 290.3

Support is at  6350 and 6230.

Resistance is at 6415 then 6525, a close over 6535 is friendly and augurs for a test of 6725.

Support should appear near 343. should bring out Buyers and

contain the break. Resistance is at 348.60 and 354.

On the DownSide: Nearby Support is at 517 and 511 then 504, day traders can buy at 506 for a good bounce,

On the Upside. Resistance is at 527 and 532 beyond that 547 is likely to trade

Nearby Support is at 1224 and 1203 to 1192 where it should hold, Day traders can buy at 1203 for a bounce. Below that 1169 offers support. Resistance is at 1247.

A close over 1247 is friendly and augurs for a test of 1268 to 1277.

Trade Accordingly

Support is at 3630 and 3549 to 3530. Below that 3440 should hold.

Resistance is at 3749. A close over 3749 is friendly and augurs for an eventual test of the 3850 to 3865 region.

Support is at 3210 and 3155. Resistance is at 3319 to 3328 and 3410 .

Trade Accordingly.

Support is at 509 3/4 and 504 3/4.

Resistance is at 516 1/2 to 518 1/2 a close over is 518 1/2 friendly and augurs for a test of 523 to 526 trade accordingly.

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

Resistance is at 132.4 and 134.6 a close over 134.6 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 2224 and 2235, a close over 2226 is friendly and augurs for a test of 2315 to 2322.

Support at 214 and 209 then 206 1/4.

Resistance is at 216 1/2 , a close over augurs for a test of 219 beyond that 221 3/4 to 224 offers resistance Traders can go short at 221 3/4 for a quick turn lower, risk a close over 227 3/4

Support is at 271. Below that 265 offers support and should bring out buyers

Resistance is at 277 , a close over augurs for a test of the 282 3/4 to 284

Resistance should appear near 6095 and 6115 then 6165 to 6190.

Support is at 5995 and 5955 to 5940.

Support is at 686 and 651. Resistance is at 704 then 716

On the downside, support is at 103.20 / 103.05. Day trader should go long at 103.20 and hold for higher prices. Below that 101.15 to 100.55 should hold.

On the Upside, Resistance is at 104.25. an extended trade over 104.25 augurs for a test of 105.85. A close over 105.85 is friendly and augurs for a test of 106.80 and eventually 108.25 then 109.20 to 110.10.

Nearby Support is at 1304 then 1290 to 1286 and 1265. Resistance is at 1334 Above that resistance is at 1346.

Resistance is at 6547 then 6582 and 6622.

Support is at 6472 and 6432 where it 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.

Below that 6397 offers good support

Support is at 4127 and 4097. Day traders can buy at 4097 for a bounce.. Below that 4027 should hold.

Resistance is at 4227 and 4297 then 4327.

Trade Accordingly.

Resistance is at 4422 and 4437. Beyond that resistance is at 4522 which should cap a rally.

Support is at 4322 and 4237 to 4222 and 4167.

Nearby Support should appear near 5467 and 5362 then 5317.

Resistance is at 5617 and 5657 beyond that good sellers should appear near 5767 and 5792.

Recommended Spread : 4 Long Feb. Bellies / 4 Short March Bellies

at 75pt Feb. under March

On The DownSide, nearby support is at 127-13 and 126-22 below that 126-13 to 126-07 should hold. Day traders can buy at 126-13 for a bounce. Risk 15 pts.

On the Upside: Resistance is at 128-07 and 128-13. Day traders can go short at 128-13 for a turn lower risk 15 pts.

Support is at 1268 and 1255.50 then 1253 to 1251.75, an extended trade under 1253 is negative and augurs for a test of the 1238 to 1235.80 / 1235 region. Under that 1232 offers support.

On the Upside, Resistance is at 1271 and 1274. A close over 1274 augurs for a test of 1283.70 to 1286.50

Stay tuned for flashes

Resistance is near 9284 to 9290 then 9316. Above that sellers should appear near 9347. A close over 9347 augurs for a test of 9428.