February 10, 1997
US Dollar Should Hold 120.00 During this Year
Mr. Martin A. Armstrong, chairman of Princeton Economic Institute Inc. in the US, is well known a a worldwide technical analyst, made his view clear, in New York on February 6 local time, that the US Dollar should hold 120.00 against JPY during this year. The substance is as follows:
If the Dollar will Exceed 126.00, it would Move up to 134.00 at a Stretch
The US Dollar’s move is very strong. It should soon reach 125.00. According to our computer models, we can expect that, if the Dollar will exceed 126.00, it would move up to 134.00 at a stretch. Strong supports for the Dollar now lie at 121.00, 120.00 and 118.00 and the Dollar should hold 120.00 until the end of this year.