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justatrader
Member since September 2015
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Gold: Yen Lightning and Love Trade Thunder - Stewart Thomson - Graceland Update

Great article Stewart. Didn't realize USDJPY negatively correlated to Gold.. But of course, carry trade and all that.

You're right on target on the USDJPY's head and shoulders pattern and the 105/107 target (although i'm looking at 109). Regarding your forecast for Gold towards $1300... Looking at the Gold/Silver ratio which is currently near the 80's... it shows that Silver could outperform Gold. What are your thoughts on this?

Also isn't there a significant risk especially in terms of the BoJ coming out with more stimulus? If not April then June? Especially given that the Fed has thrown in the towel at least until April?

I think Gold is poised to the upside following a dip to 1200 - 1180 region, regardless of how monetary policy goes from here on.

Look forward to your comments

Commented 2955 days ago

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Beginning of the headline :old continues to track the sideways action of the US dollar against the Japanese yen, ahead of Friday's important US jobs report. 2.Investors who focus only on the USDX are focusing mainly on the action of one risk-on currency (the dollar) against another (the euro).3.That's a mistake, because gold is the world's premier risk-off asset.Gold's price action against the dollar is highly correlated to the dollar's price action against the Japanese yen.4.Please... Read More

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