andypro16

XAUJPY approaching support (with some fundamental analysis)

Long
OANDA:XAUJPY   Gold/JPY
XAU: With increasing risks of emerging markets like Turkey, people tends to buy GOLD in order to protect their purchasing powers. As a result, the demand of Gold increases.

JPY: In mid terms (within 1-2 years) , it is expected that BoJ will not raise the interest rate due to the slow economic and inflation growth. Therefore, it is expected that JPY will not appreciate sharply and even depreciate.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.