On this one month chart you can see that USDJPY hasn't made a higher low or a higher high since... well... never... so I'm not even sure what is keeping it aloft at this point as it is in a tight squeeze between averages and that is probably why we are seeing these rounded formations on the daily chart , it is fine to play the swings for some gains but until this pair bottoms and makes a higher low there's no where to go but lower... which might be a great thing for gold bugs for the next few years... just saying...
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Here's a look at a gold chart in comparison below and if you click on the chart you can read all of my notes.
