graham.edwards84

USDJPY idea as it relates to Gold Movement

FX:USDJPY   U.S. Dollar / Japanese Yen
148 0 5
I have learned that when trading in Gold             and Gold             ETFs that one extremely important factor is to watch the movement of USDJPY             as it moves inversely to Gold             . One can use this knowledge as a predictor of the gold             movement although gold             does move in wilder swings due to its volatility .

This chart shows my idea of the currency pair to work up to 108 before falling to 105 just before the Dec rate rise decision. The timing will be perfect for another leg up and how far it rises will be determined on the decision of the FED. We will see it rise to 110 and potentially higher if rates are pushed up. This will be the time to exit gold             even if rates stand pat, then watch for a retracement signal from the currency pair before getting back into gold             .
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