| In recent weeks, we have been looking for a breakdown in the JPY. If you read this post from two weeks ago, we outlined equities and bonds which may be the catalyst. Today, we have seen gold break a major support of $1300, which technically is a“bearish wedge” pattern.
The first target from the December 2015 lows to July 2016 lows comes in just above $1250. So in other words, gold has some distance to fall from current levels. If that is the case, the JPY and gold correlation (gold and USD/JPY inverse correlation) is quite strong as well...........................................Full Article: Source
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