FX:USDJPY   U.S. Dollar/Japanese Yen
661 14 12
Here is my thought on usdjpy             for next week. I expect to see a bounce off the resistance line and/or bearish trend line I have drawn on the charts. From there I think the direction is dependent on the greek deal that will be negotiated on the weekend. If their is a deal than I would expect an eventual break higher for this pair as shown on the chart. If there is no deal and a greek exit, I would expect to see yen strengthen across the board and send this pair lower. Let me know what you guys think! :)
TomHall TOP
a year ago
USD/JPY Weekly Outlook

Reply
LexieGirl TomHall
a year ago
good one!
Reply
ForexCarl PRO LexieGirl
a year ago
Good call on the UJ, can you post which way the EC is going to vote please? :-)
Reply
LexieGirl ForexCarl
a year ago
there are a lot of variables. Indications are pretty positive that a deal will be reached, so that is where the probabilities are at this point.
Reply
How is 0,746 related to the golden mean (0,618 and 1,618)? I know 0,786 as a square root of 0,618. 0,786*0,786=0,618. But what is 0,746?
Reply
IvanLabrie PRO Alexander_Nikitin
a year ago
Strange fib tool defaults...
+1 Reply
Alexander_Nikitin TOP IvanLabrie
a year ago
Suppose they are not Fibonacci ratios but LexieGirl ratios). It's ok if she is as smart as Leo Fibonacci was))
Reply
LexieGirl Alexander_Nikitin
a year ago
http://www.investopedia.com/ask/answers/05/fibonacciretracement.asp

It is a fib level and if you read the above you will get your answer.
+1 Reply
Alexander_Nikitin TOP LexieGirl
a year ago
In the post you are linking to there is no 0,764. Instead there's 0,786
Reply
LexieGirl Alexander_Nikitin
a year ago
it is .236 and .764 is to .236 as .618 is to .382.

Reply
Alexander_Nikitin TOP LexieGirl
a year ago
Oh, I got it). It's 100%-23,6%=76,4%. You just need simetrical levels because you stretch fibs upside down.
Reply
LexieGirl Alexander_Nikitin
a year ago
:)
Reply
Tom_Killick Alexander_Nikitin
a year ago
They are default Fibonacci ratios.... Lol
Reply
There is no way that the EZ will let Greece exit. There will be some sort of plan in place. And this time, Tsipras and Greece will accept it. I've been saying that all along. But I don't think markets will overreact to the news either way. Even if Greece decides to exit or the EZ gives up and lets them go and doom themselves, the market will not overreact. It will take it in stride and see the whole situation as nothing but a blip on the radar screen. Look at the smaller-than-expected gap opening last weekend after the Greek referendum NO vote. Before the vote, news reports and financial analyst were predicting gloom and doom should the result be a "OXI". Sure. The markets gapped opened but "Voila"....nothing much! Much "smaller" gap than expected given the 200+ pip gap in the EU the week before. Gap covered within hours. Then the markets rallied because everyone realized it wasn't gloom and doom!

I just wonder more of why the markets didn't react more to the China stock market meltdown. It lost more in 1 day than the entire GDP of Greece! Of course, China stepped in and put a band-aid on a gaping, gushing bullet hole but I would hope no one is buying that will solve the problem. Anyway, Even so, the Aussie reacted negatively to it as expected but still not as violently as one might think given how dependent Australia is on the Chinese economy.

So again and again, it's more sensationalism than true sentiment. Not belittling the situation on the ground with real people and real lives and real people who are being affected by all this but in short, I'm not letting the news dictate how I trade.

Oh, my opinion on your original question about what will happen next week to this pair? It's going higher early in the week to break that trend line in a retracement wave of the recent move down after a small bounce after hitting that trend line. Maybe just a little more than 15 pips. Maybe 16? ;-P

P.S. I used to use .764 fib before switching over to .786 as harmonics calls for using. I forgot all about that number! Do you find it more useful than .786?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out