Nice confluence on the monthly chart before September ends(just thought of Green Day as I typed that). 61.8% retracement plus 100% extension forming an abcd pattern easy to see on the weekly. Divergence on the daily and possible head and shoulder pattern forming on lower timeframes.
Daily triangle broken to the downside, currently sitting at support and in a nice channel going down..gold could go up to test the weekly pivot point before it continues to go down. Could possibly extend to a 1280-1260 area.
Currently at a channel im expecting a last bull to retest the highs(minimum) or create a new one before coming down and breaking the channel for a nice move to the downside before another re buy at the 61.8% area
USDJPY is showing exhausting at current levels of key resistance. A break in lower trendline might trigger a continuation of its bearish stronger trend that could extend around 103.00-102.00 levels. Looking for confirmation to enter shorts positions. In case it makes a new high and a candle closes above 106.25 levels this idea would no longer be valid.