I’ve pointed out before that the most positive thing for gold, in my opinion, would be for the USD/JPY to break down. It is still – – ever so slowly – – continuing to shape up that way.
![slopechart USD JPY](https://slopeofhope.com/wp-content/uploads/2020/09/slopechart_USD_JPY-640x343.jpg)
Here’s a longer-term view. A failure of 104.61 would do the trick.
![slopechart USD JPY](https://slopeofhope.com/wp-content/uploads/2020/09/slopechart_USD_JPY-1-640x330.jpg)