Sand Spring Advisors LLC
Yen Decline to Take Substantive Pause
January 24, 2002
by, Barclay T. Leib
Readers of these pages know that longer term we see USD/JPY reaching the 167.50-169 region. For the moment though we also see very substantive resistance in the 134.50-134.90 region. This shows up both on a daily basis (where the Fibonacci bands now fit the advance since the late 1999 lows near 101) and on the monthly chart.
The advance from 101 also now sports a 5-wave advance that looks nicely complete. Indeed, 134.50 represents a natural 50% stopping point 33.5 points above the 101 low and 33.5 points below 168 -- the roughly extrapolated eventual high.
Given the longer term trend of the dollar against the yen is still higher, we cannot actively advocate going short dollars against the yen (except maybe for truly aggressive traders with relatively tight stops, say at 135.70, which will allow for a bit of a short-term throw-over potential), but we can strongly advocate taking profits on in-the-money long dollar/short yen positions. The yen's move lower is largely done for now, and more backing and filling will soon be the order of the day. Only after such backing and filling will this market be able to regain its strength for another upward dollar advance.
How Your Articles Are Delivered
Upon the processing of your credit card or the receipt of a personal check, Sand Spring will e-mail you the articles requested as a Word attachment, and also provide you with a WWW address and password to view the article on the web without using Word should you so desire. Confirmation of your order will be immediate, and the actual article will follow by e-mail typically within a few hours and in all cases before the opening of NYSE trading on the following day.
Ordering by Credit Card:
Our shopping cart is designed for both physical and subscription products, so do not be confused too much when it asks you for a shipping address. A correct address is important only for credit card authorization purposes. Your e-mail information is the most important piece of information to us for proper delivery of your article(s).
Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.
If you order by credit card, your credit card will be billed as "Sand Spring Advisors LLC"
Take me back to the Sand Spring Home Page
Comments or Problems
Thank you for visiting Sand Spring Advisors LLC, Inc. We hope to hear from you again soon. For more information on Sand Spring Advisors actual programs, services, or to request a copy of a Disclosure Document, please phone us at 973 829 1962, FAX your request to 973 829 1962, or e-mail us at information@Sandspring.com
10 Jenks Road,
Morristown, NJ 07960
Phone: 973 829 1962
Facsimile: 973 829 1962
Best Experienced with
The material located on this website is also the copyrighted work of Sand Spring Advisors LLC. No party may copy, distribute or prepare derivative works based on this material in any manner without the expressed permission of Sand Spring Advisors LLC
This page and all contents are Copyright © 2000 by Sand Spring Advisors, LLC, Morristown, NJ