GOLD or USD/JPY?
Latest research by Craig Hemke of TFMetalsReport is reporting about a proof of correlation between gold and USD/JPY. Not known to many traders, gold IS positively correlated to yen.
We compare yen futures to gold futures on a monthly time frame. You can see how gold’s peaks and troughs correspond to that of the yen’s peaks and troughs. The above chart also shows that the correlation is not 100%. Or in other words the percentage to percentage move or a point – pip basis between gold and yen are not exact. Still, there is exists a level of correlation that cannot be ignored.
The next image below shows a 30-day correlation between USDJPY and XAUUSD. Notice the -91.8% correlation, meaning that gold and USDJPY tend to move inversely or in opposite directions.
...more about bitcoin and gold in second half of the latest Keiser Report below...
https://www.rt.com/shows/keiser-report/389912-episode-max-keiser-1076/
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