Central banks will be gold buyers this year, no doubt on that. We have trade tensions out there, economic slowdown, and fear of a recession among other issues.
That said, gold developed a 5-wave bull trend starting Sep/28/2018, finishing Feb/20/2019. Since then, it's stuck inside a complex correction forming a descending wedge, as you can see on the chart...
USDJPY has performed fairly well since the fresh crash that took place Jan/03/2019. The bulls took the lead since then to perform a 5-wave bull trend that finished Apr/24 due to safe-heaven demand that boosted the Yen. Now we're in for a possible ABC correction.
As you can see on the chart, a possible target for a wave-B is the narrow range between 111.677 -...