USDJPY, Fibonacci, and the Magical 110.025

The wonders of Fibs

This is USDJPY on FXCM.
Left pane is Weekly chart going back to 2012.
Right panels are zoomed in views of the circled areas.

The Fib in left pane was drawn from the first impulse in first Quarter 2012.
Each of the fib extensions shown becomes relevant later.

Check the 4.0 Extension at 110.025. Not 110.000, not 100.000 but 110.025
That extension was touched once before (albeit cut though several times)
That extension was touched this month (upper right) to the pip, and twice.

Fascinating for several reasons:
1) The Ripples of a ''Protuberance'' that happened 6 years ago are still clearly in effect today.
2) This asset trades almost a $1 Trillion PER DAY by almost all banks around the globe.
3) Numerous conditions, people, and econs have changed a lot in the last six+ years.

YET, that tiny first wave six years later still directs Trillions of Dollars and perhaps Billions of People to decide that $110.025 is THE number of importance Right Now.



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I am not religious but if there IS a God, then he/she/it will be found in/by/for the Golden Ratio.
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Comment:

Here is that mysterious 110.025 again.
It was surpassed, retested precisely and it have price the permission to keep going.
But only a temporary pass it seems. Now the price trying hard to get past it again, lets see what happens.

Comment:

Here we are again, that 110.025 proving to be very important

price has been well and well below, but it seems to find solace/conviction at 110.025

Comment:

Beautiful bounce of that magic line!

Comment:

WOW, another EXACT ping off the magic number:

Comment:

Here we are yet again

will it bounce? lets see, but I have a small long in play, will add more if bounce holds or will cut it loose if it breaks below 109.49 ..
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Comment:

Nice bounce so far.

Red zone shows closest resistance in my perspective...
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Comment:

Here we are, YET AGAIN

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