BOJ'S TURN TO SET THE NEXT IMMEDIATE DIRECTION FOR GOLD AND YEN

Many of us have watched as Yellen and others give indications to US rate hikes and how/when they should help the economy. Japan has waited even longer for their rate decision. In gold we've seen spikes, pullbacks and consolidation but the night is upon us in the US and the day has come overseas. Let's see how it plays out.

I'm basing FIBO off of lows and highs, areas of resistance from far past and more recent past where we might see jitters while it moves up or down (helps to not jump too early if you see flutters while scalping or trigger ready).

Commentaire:

Not much of a move. We're only back to where we were 10 hours ago before the BOJ announcement of no rate change.

This might not be valid but before all of this we were going up to test new levels. Though there is formation showing that looks like a head and shoulder pattern on 15 minute chart. We'll have to wait and see.