The past few days have been rocky for gold. After briefly punching above the 50-day Simple Moving Average early last week, bear hijacked the driving seat as multiple fundamental forces dimmed the metal’s allure.

The mighty dollar has been an unstoppable force in 2022, flattening everything in its path.

A sense of tension gripped financial markets on Wednesday as inflation jitters, recession fears, and worries about rising interest rates left investors on edge.

After breaking through the 15 and 34 Simple Moving Averages, the USDJPY could be gearing up for further upside. Bulls remain hungry and currently eyeing the critical resistance at 132.903. A solid breakout above this point may signal further upside in the medium term.