Yen To Resume Downtrend?

April 6, 2001
Dave Landry

Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.

The June Japanese Yen
(
JYM1 |
Quote |
Chart |
News |
PowerRating) looks poised to resume its strong downtrend
out of a pullback from lows. Look for a shorting opportunity here on any
resumption of the trend.

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May cotton
(
CTK1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still looks poised to challenge life-of-contract lows. Continue to
look for a shorting opportunity here.

July wheat
(
WN1 |
Quote |
Chart |
News |
PowerRating) appears to be
stalling out after recently rallying from lows. This suggests that its downtrend
remains intact. Look for a shorting opportunity here.