Type two different texts with the same color on transparent background with two different layers.
Select the first text layer. Make a duplicate. Apply the Blur filter on the copy.
Filters > Blur > Motion Blur (Angle : 0, Distance : 25)
Repeat the same procedure for other text too.

File > Jump To > Image Ready 3.0
Click the black triangle in the animation Palette (Marked with red)

Select " Make Frames from Layers ".
Duplicate the 3rd frames and drag it towards the right of the 4th frame.
Duplicate the 2nd frames and drag it towards the right of the 5th frame.

Set the timings for frames.
Set the no. of time you want to play the animation.
Check the performance in the browser
File > Preview In > Click the browser you want

Save the file with File > Save Optimized or File > Save Optimized As