Yen/Gold blows out further as USD/JPY rises above 152 and Gold has a look above $2,750

The hitherto long standing Yen/Gold dynamic has blown out further this morning and that is because the price of Gold in the Japanese currency has risen further. That is because the USD/JPY has risen above 152 this morning at the same time as the metal has taken a look above the $2,750 handle. Gold had closed in the US last night at $2,749.01. It has risen to a high so far today at $2,752.81. The noted topside trend line resistance has now shifted higher owing to the ever changing dynamics of the daily chart. Hence, that trend line is in place this morning at just above $2,760. Gold is also still defying the further rise in US yields this morning. The 10 year note is now at 4.23%. At the same time that further rise has helped to enliven the USD/JPY, but more on that in an update a little later. Gold is currently trading at $2,752.25