Yen and gold testing important levels, as the equities markets are doing the same

Yesterday and today, we've posted a lot about the equities markets testing important levels (and I'm also going to post how my long-term charts look for many components including the Dow, S&P 500, banking, transports, and others, at my UBTNB3 site (see link at the right side of the page). So, it probably isn't surprising that the yen - and gold - are doing the same. You can discern the channel support levels as I've marked them on the following charts for the yen, as well as gold. In the yen, if it breaks support, then I view it as confirmation of a bearish Gartley pattern and one objective can be 83 on the $XJY chart. Conversely, if the yen is able to hold support and move higher, then projections include $125 and above. In gold, a break of channel support can be quite bearish, as most likely confirming the view that it's in an Elliot Wave C-wave down to levels under 680. And if gold holds support and pushes upward, then 1024 is one objective (and others can include 1167, 1192 and 1200).

Here are the charts - first, the daily, weekly and monthly charts of the yen ($XJY):


And next, the daily and weekly charts of gold (continuous contract):


All the talk about the dollar this, the dollar that - and it's just two days off its recent high, close to my 91 target, and on Friday it pulled up from moving average support. It can be working on a wedge, though, so we need to keep an eye on channel support. Of course, if it does reverse downward (will be nice if it hits my 91 target first though - won't it be neat if it does that late Monday or Tuesday along with equities touching a low point?), and break moving average and channel support, then a move downward could go along with gold moving higher. Then, taking it one step further - if the dollar pulls back while gold moves higher, then we could also see the dollar then resume its uptrend while gold goes down in a C-wave. Not trying to dictate to the markets, of course - just trying to see how it could all tie together. Here's my dollar chart: