As we all know when the USD is rising against the YEN, GOLD goes down.

The USD has been in a near parabolic rise against the YEN since Oct 2016 driving GOLD down.

This chart implies this trend may be changing. The rise since Oct in USD against the YEN from October was a 5 wave up and we are in a ABC corrective mode.

Note the top of the B wave did not exceed the high. This could be a double top. If so that would provide a headwind for GOLD going forward.