Geopolitical tension is back and the Korean Peninsula is again in the headlines. That sets the Risk-Off mode, which positively influences precious metals, CHF and JPY and negatively affects EM currencies and stocks.
Gold is having a great month. Problems with the North Korea are just the icing on the cake here as the XAUUSD was heading strongly higher even two days before the latest Asian event. At first, because of the weaker USD after the Jackson Hole Symposium, then the stop loss order activation after gold broke the 1300 USD/oz resistance. The next target is the 1380 USD/oz.
Silver is in a worse position than Gold but is still positive. Here, we broke the long-term up trendline, which opens us a way to test the 18.50 USD/oz resistance.
USDJPY broke the 108,7 support and went to test the lows from April. Bounce here is the last chance for the buyers to remain on the surface. Going below that level will be a signal for a much stronger drop aiming the lows from the 2016.