GOLD vs USD/JPY: following some correlations

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Hi Guys,

here is the link to the move made USD/JPY in the same period.

USD/JPY vs GOLD: 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. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.

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This is also something to watch carefully. This inverse HS formation is acting as strong support.

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

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To try to put things into perspective, the above inverse HS is the bottom of the horizontal channel below B of my 4h chart

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Following the release of US datas that strenghten the US dollar, USD/JPY confirmed support on the above HS formation and drove up towards the area indicated by the green and red arrows. This area is just below B. TR inside the horizontal channel made by the two horizontal lines in black bold. I've added the BB200 and noted that middle MA is coming down on price.