Did you know that the 80% retracement (which many Fibonacci watchers follow) of the USD/JPY pre-WWII low to the post-war high is at 80.00 (it went roughly from 30 to 300 but I don?t have exact figures to hand)? 79.75 was the big low back in 1995 from where it rallied to 150. Now we have been back to 80 again and we could be possibly putting in the biggest double-bottom of all time.
This is probably not the place to be initiating a long-term USD/JPY short position!
