DXY here compared to USDJPY. Both will begin to make moves lower now and hopefully break through their resistance which will be bullish for PMs. If USDJPY can finally push down through 111.60 it would be a good indicator to go long on PMs, GDX, JNUG etc. The US Dollar will recover though and move up again to make its cyclical high probably to the 110 range but potentially higher, tough to say definitively at this point.
I'll be playing long JNUG until USDJPY reaches the 100 range then will be long USD or switch to JDST. It could take potentially 18 months for the US Dollar to top out and when that happens Gold will begin a spectacular bull run as USDJPY and DXY start their reversal.
I'll be playing long JNUG until USDJPY reaches the 100 range then will be long USD or switch to JDST. It could take potentially 18 months for the US Dollar to top out and when that happens Gold will begin a spectacular bull run as USDJPY and DXY start their reversal.