PeterLBrandt

Gold set to advance against the Japanese Yen

Long
OANDA:XAUJPY   Gold/JPY
The massive ascending triangle completed in Mar 2023 has met its 1X target at 275,000 Yen per Oz. It is quite common for such a large pattern to eventually fulfill a 2X target. The daily chart is coiling into a pennant that should be resolved by an upside breakout. Tactically my trade is to buy Gold futures and sell Yen futures with an approximately equal USD value.

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