Next week's USD/JPY and gold may move quite a bit. What will the market look like with the FOMC and the BOJ?

Next week is a week with a high likelihood of significant moves in both USD/JPY and gold.

The US August CPI released on September 11 showed core CPI beating expectations, boosting expectations of further Federal Reserve rate hikes.

However, next week,
September 15–16: FOMC
,
September 17–18: BoJ meeting.

USD/JPY

US rate hike expectations are supportive of a stronger dollar, but in Japan, expectations for BoJ rate hikes are rising as well.

In other words,

Fed hawish → USD/JPY rises
BoJ hawish → USD/JPY falls

will be the factors.

Rather than forcing a direction now, it may be safer to wait until after the FOMC and BoJ meetings to confirm the trend.

Gold

Gold rose to around $4,363 on September 11.

Normally, rising US yields are a headwind for gold, but due to Middle East tensions and higher oil prices causing uncertainty, it is being bought as a safe haven.

On the other hand, the US 10-year yield is approaching 5%, so a sharp drop after the FOMC should be watched.

Summary

Next week,

USD/JPY → wait for direction after the FOMC and BoJ
Gold → there is upside potential, but be wary of sharp moves after the FOMC

Rather than rushing in, target levels where the trend becomes clear after big events have passed.

I think that is the best fit for me right now.