USD/JPY vs GOLD: following some correlations

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Hi Guys,

here is the link to the moves made by Gold in the same period.

GOLD vs USD/JPY: following some correlations

Thank you for your support and for sharing your ideas.

Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. CozzamaraDaZena is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.

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15 hours have passed and USD/JPY, following the release of US datas that strenghten the Dollar, confirmed support on the inverse HS spotted by @JamesEvison and reached the zone marked by the green and red arrows. Mr Evison: hope you don't mind me using your idea to follow price.

USD/JPY - Inverse H + S reversal pattern pointing higher

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Between 109,200 and 109,900 is the price range USD/JPY entereted just below B).

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Between the two black horizontal lines in bold.

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The 200MA inside BB acted as a pushing force up for Gold and maybe acting the same on USD/JPY but in the opposite direction.

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In view of forthcoming FED meeting USD/JPY may be looking for a top above 109,900 for a momentaneous cross of the 200MA. From there, it will depend on market reaction to Powell's comments on status of the economy and FED policies for the future.

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If - following tonight FED meeting - I note that USD/JPY is pushed by that 200MA I will look for set ups targeting 108.

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If Powell is dovish and US dollar weakens = it should help the push.