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Topic: July (XAG, XAU, GDX, GDXJ & USDJPY) (Read 7470 times) previous topic - next topic
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Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #75

USDJPY looks to be in a down slope trend (dollar weaker relative to yen). There is a double top at 114.2 that will be strong resistance if the chart moves that direction. The ratio double top corresponds to a double bottom supporting the inverse relationship. At this juncture, USDJPY is toying with horizontal support resistance. Intersection of sloping support and resistance lines is early September, coinciding with several PM related charts suggesting there is still a relationship. BB width is very narrow for telling a move soon. MACD and RSI predict the move will be down. This portends a stronger dollar relative to the yen. If that turns out true, the Japanese economy is really in bad shape and it might be with huge public debt and demographic issues with their aging population.


 

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #76
The Yen/usd, look at the weekly chart and the stochastic. Then go to the monthly chart and look at it. Downward seems to be the trend.

As I understand it, Abe over there in Japan had the fed bank buy all the national debt and hold it. Its like a setup for bankruptcy at some future date. There's so much confusing data and opinions out there its hard to know what the hell really goes on!

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #77
Looking like the Yen is breaking bottom with Gold, GDX and silver forming up some nice spiking. We'll see what we get. GL.
It looks like we were thrown a curve ball this morning with most of the recent leading stocks pulling back. Possible setup for afternoon into tomorrow at this point IMO.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #78
Ok, maybe Friday, maybe not  :-\  Back to back convergence. Today could be an eventful day. Something to watch for.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #79
I think you got your answer Chart_ist . At least for now. Looks to be a good day....

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #80
It looks like August or September depending on a retest of the 40 MA or not IMO. If the Yen drops below 109.00 it should get trapped in that channel to September where it is likely to receive a great deal of support.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #81


Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #83
Silver is certainly acting like it wants to go today with gold and the yen pretty well deadlocked. Could mean a positive day if the follow through comes through silver with gold performance being the laggard. The yen has made a pretty significant push and is hanging in there, but may yield with time. We'll see. GL.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #84
Silver is certainly acting like it wants to go today with gold and the yen pretty well deadlocked. Could mean a positive day if the follow through comes through silver with gold performance being the laggard. The yen has made a pretty significant push and is hanging in there, but may yield with time. We'll see. GL.

Fed announcement of meeting results could be a catalyst for a move tomorrow.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #85





For Entertainment Purposes Only.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #86


Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #87
So much RED today. All I can see is that the Yen is in play and being played. A likely scenario, but can't be guaranteed. Nothing looks all that bad to me at this time. The response to today should be interesting. GL.

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #88

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)

Reply #89
Prophetic at the moment as the Yen dumps.