Trading Short Gold (XAUUSD) and Silver (XAGUSD). BoJ, BoE, and Fed Interest Rates in Focus.

In today’s GCI Market Outlook, let’s take a look at Forex Trading on USDJPY, Gold (XAUUSD), and Silver (XAGUSD).

Finally, we are seeing some strength in JPY.

Normally I would show you all the JPY pairs but, suffice it to say, all the charts look the same.

USDJPY has retreated from over 161 and is now down in the low 150s.

However, on Wednesday we will see the BoJ announce its policy statement and Interest Rate Decision.

If there is an Interest Rate rise it will likely only be 0.1% but no one is sure if it will happen.

Either way, watch for volatility.

Also, the Bank of England and the US Federal Reserve will announce and analysts are expecting a drop out of London so GBP may fall.

Also, watch out for the Non-Farm Payrolls and Swiss, Australian, and European CPI among others.

From the technical side, almost all metals including Gold, Silver, Platinum, and Palladium might be ready for short positions.

We are watching the upper trend lines in these bear runs and our technical indicators.

However, watch the higher time frames as well and the economic news around USD this week.

That’s all for now.

CFDs and FX are leveraged products and your capital may be at risk.