USD/JPY short-medium term

I’ll take another stab at the USD/JPY here. I’ll admit I haven’t been completely right on this lately. It’s been a tough read, although thankfully I was able to profit a bit on the $1300 break.

Up at $1,350 gold I think a lot of people said they’d wait for $1,300 to get back in. Well here we are, and we sliced through it seemingly easily. I’m looking at the USDJPY  in two ways: Horizontal support/resistance and Vertical support/resistance.

My personal bias is in agreement with many others here – that there’s probably a few % more downside left for gold.

Vertical lines show we’re at/near resistance already.

Horizontal s/r lines say there’s more upside. So it’s a tough call.

Gold weekly shows my personal bias could be correct – a few % downside left. The 2011 downtrend is around $1,280, as well as a horizonal support and the mid-bollinger band which sometimes acts as support.

 

Conclusion: Tough read for me, but I’m leaning with my personal bias. A bit more to go.

 

 

 

Gold chart – monthly

Bears are back in the gold camp. Nothing to worry about as this is business as usual.

I believe it is normal after breaking a trendline, to test that line gain. Therefore $1250 could be tested without damaging the monthly chart. It would be better although not to decline much lower than the 50 day support near current levels ($1288) I believe. Next days/weeks could be crucial for bullish/bear case.

 

 

 

Dollar Target

Here is a chart showing a possible target for a dollar low. There are Fib relationships that point to 90.2 being an important level. Note also

https://bradleysiderograph.com/2017-turn-dates-gold/

Which forecast a turn date on Sept 7th five months ago. I’m looking for a bounce in gold here and then down into December.

USD/JPY

Coming up against resistance. 113.20 is my target for reversal.

Good luck to all.

 

Rambus Wednesday Report

Almost ready for Posting…Members stand by.

Some really crystal clear Important Lines for PM Stocks.

Watch your inbox…must read before bedtime

🙂

Yellen Trumps Nukes

Ha….This cute little pixie of a woman is THE most powerful Human on the Planet.

https://www.bing.com/images/search?q=yellen+pic&id=5609104B0AEA9DB06871F0E1E2CDB02DBC76EA42&FORM=IQFRBA

We got Trump vs Kim , two psychotics treating their nukes like they are playing a video game

We got These guys with lots of money wanting to kill everything that moves

We Got THE worst Hurricanes ever …coming one after the Other .

We got Supersized Earthquakes on the Pacific Coast.

The Atmosphere AND the Bowls of the Earth are both conspiring to punish us for our heathen sins.

So in summary:

Nukes and Kooks all over the damn place .

The Worst Hurricanes in Recorded History

The Worst Sequential Earthquakes in a Long time.

The world is being smacked to smitherines 3 different ways….who’s Next to get clobbered back to the Stone Age ~ !

BUT Our Precious Gold …gets trashed exactly at 2 PM Eastern …. because of a few choice words from Janet

The UnQE shall begin….we will start selling our Bonds on the open market …and that is Good for a 1% smackeroo in Precious Metals…..in spite of all the above.

You gotta love the fact that This tiny little gremlin of a woman …with the personality of everyone’s favorite granma……is who calls Gold !

“Whatever it takes to add a little excitement to an upcoming Fed announcement, right?”

“Loaded for bear?”

Silver Junior Miners Lead…


Perfect back test…
Close up SILJ 2 Hour…

Closed right above the lower trend line keeping the BULL channel intact…

Dario (Mars Capital) on gold [EW]

Dario showing a bullish count, as well as a “less bearish” count that lines up with my MINIMUM view that we drop into end of year.
I sided with Ranchida yesterday after he posted a “more bearish” count.
Dario also posted some local counts showing that further lows were needed to indicate a trend change.
I think we get those.

https://t.co/z8guAYhwke

I’m liking the CMF, OBV, ACC/DIST, volume, moving averages on Gran Columbia (TPRFF)

Monthly                                                           Weekly

 

Commodities update – Oil & Commodity indexes

It is time for a full Big Picture Commodities update but I do not have the time for that now. Even so, I feel I have to get the charts below posted at least.

Let´s start with my now long standing charts for $WTIC, below. On the daily we now have a BO above my purple expanding wedge and a BO above the neckline for my blue inverse h&s. On the weekly and monthly we can see how we are steadily closing in on my neckline for my very long standing large inverse h&s.

Below we have the bigger one of $WTIC´s many cousins, the $BRENT. Here we already have a BO on the weekly out of my blue inverse h&s. And the monthly is looking fabulous. Also, remember the thin zones I have posted for 7-8 months now.

Moving on to the $CRB, below. Here we have BO on the daily. And we are awfully close to a BO for my weekly inverse h&s and therefore also BO for my quarterly expanding wedge. I have been posting about this for 8-9 months now, it is very soon happening now.

And we have a new chart to finish off here. Below we have a more well balanced commodity index than the above $CRB in the form of Jim Rogers´ self-constructed RJI. The RJI contains 37 commodities and $CRB 19, plus, the $CRB is massively weighted towards energy.

Note here, and I can not stress this enough guys, it has already BO from my weekly inverse h&s. And judging from how the OBV looks, not very many souls on planet earth are watching/believing it – yet.

So, in short – we are looking more than fine.

Most of my 100+ Big Picture Series charts are talking to us with a loud and clear voice, especially the ones in this post – Are you listening or are you still looking for “the next chart”.

See my Big Picture Series roadmap posts for where we are and where we are going, updated collected list linked below.
https://goldtadise.com/?p=407909

One of my Big Picture posts in the collected link above is the linked post below, it fits in here pretty well looking at the charts above.
https://goldtadise.com/?p=407586