XAUJPY has been trading within a 1D Channel Up that is now on its Higher Low limit (RSI = 50.211, Highs/Lows = 0.0000, MACD = 335.230). The declining Higher High sequence however may push this time slightly lower creating an alternative marginally tilted Channel Up (dashed parallel lines). The long TP is 142915.
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it may be strange that I am bearish on XAUUSD but bulliish on XAUJPY.
However, above statements can be tenable because I am also very bullish on USDJPY.
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...
when we talk about JAPANESE YEN VERSUS GOLD we are talking about safe haven currencies both of them in same needs and same movements versus USD .
so when we wanna know JPY and Gold real way you should track this pair.
overall
XAUJPY looks below weekly uptrend for the second week in succession but it looks failed to broke daily uptrend
so i will stay watching...
Good Retracement of XAUJPY.
Liability Disclaimer: All trades posted here are my personal view of the market. Please do your own research before to trade and you are responsible for your own entries, SL, TP, and Exit.
My gold index is evolving in a bear flag type of pattern which should resolve lower. although price currently hit the support line of its symetrical triangle which should provide a temporary bounce, I will be looking for short entries to target the 61.8% and 100% extension fibs.
I haven't published many ideas on TV besides my occasional take on Bitcoin. At the beginning of the year, I decided to learn how to trade commodities though, so naturally I am observing the commodities markets much more closely these days.
Yesterday, when I was starring at the XAUUSD chart for the hundredths time wondering if the next big move will be to the...
FX_IDC:XAUJPY Someone is selling gold using worthless Yen dollars since 2011 as can be seen by the support line at around 12700 levels. I think it's the Abe government and their central bankers using quantitive easing to cap the upside in XAUJPY. The problem here, is that this has been going on for some time that a pennant flag formation has emerged, indicating a...
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