USD/JPY Daily Video, August 18, 2016

[Sive Morten]

Good morning,

JPY is coming to important "100" level, and it could give us interesting opportunities:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Greg Davies]

Hi Sive. Thanks for the analysis. One question. Why do you use the bottom of Sept 2012 to start your fib with instead of the lower bottom of Oct 2011? This would put the 61.8 at 94.77.

Thanks,
Greg

 

[Sive Morten]

Hi Sive. Thanks for the analysis. One question. Why do you use the bottom of Sept 2012 to start your fib with instead of the lower bottom of Oct 2011? This would put the 61.8 at 94.77.

Thanks,
Greg

Hi Greg, both bottoms are correct. I use higher one, since it gives more conservative target, since it is closer to market. Second - because this is the low where real upside action has started. Usually levels, based on real thrusting swings have more value.

 

[Greg Davies]

Hmm. Ok, thanks a lot.

 

[Brett Reynolds]

Its not Rocket Science on the Yen Pairs at the moment is it!? I made a lot of pips over last few weeks selling ALL Majors against the Yen! It has been a Gold Mine!
Re Fibs. When i draw them on Big Time frames i always look to see where the natural support or resistence levels are and IF they naturally line up with the Fib level. If you look at 94.7 on the $/Yen i think there is a good level of support there. But 95.50 is also ok to take profit subject to what PA you see or your trading style!?