A.M. Look 6/16/16

Gold/Euro..is breaking out of it’s 1 year range.
The Fib extensions give you an idea of how far this can run.
Caution back below 11646.
Inline image 1
EUR/JPY...Is getting close to fulfilling major multi yr. fib extensions
@ 115.09 with 111.46 being the extreme oversold bounce level.
Yen...BOJ stands pat. It was hard to imagine just two days ago that the Yen could get to the next matrix # @ 97.00, which was 400 points away from the last.
Target achieved, time to let this beast settle down.
Missed it by 10 ticks.
Use the matrix as the tool it was intended. Markets move from one macro level to the next as long as they do not close back through a # set.
42 years of empirical observation, I’m amazed by how markets just keep doing it.
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