http://jsmineset.com/2010/09/30/hourly-action-in-gold-from-trader-dan-344/

I will copy only the last part, it is very imortant for this Day:

The Dollar is getting a bit of a bounce today but considering the “happy” news about the Chicago PMI, the GDP numbers and the mild drop in initial unemployment claims, it ain’t much of a bounce. The Yen is within a mere hairsbreadth of the point at which the BOJ intervened. As said previously here on this site, they either intervene and knock it back down or they are finished as a market force to be reckoned with as the spec crowd will have called their bluff. What sea change that would be if the BOJ was defeated by the Fed’s QE2 and the Yen was going to soar onto new heights.

There is some chatter from the former “Mr. Yen” that intervention is a waste of time because it is not being done in coordination with the Fed nor with their consent and ultimately will prove to be a waste of time. Should his views hold sway and begin to gain a majority, it would signal that just like the Swiss Central Bank, the Bank of Japan has given up trying to fight the sinking Dollar. The implications for gold are obvious as it would remove a bit of further support under the USDX and probably allow the Dollar to quickly break 78 and head down towards 75 quite rapidly. Stay tuned. We might just yet see them in the market this evening.

As I write this it is already happening, this is speculative war, if Mr Yen next week doesn't do anything it will soar to new highs against Dollar and Dollar can sink further direction 72. For Euro watch 1,42 as next resistance, Swiss Franc is already strong, Pound is also going direction 1,6 and Dollar is going down. If Dollar breaks the last support at 72 watch then accelerating down trend. This is of course good for Gold.

As for PEM, this is the last quiet day before next wave of buying after Casey Summit, that means the last day to loaded under 50 Cents if that will be even possible, I will say that everything under 60 Cents is good buy. We will see but next week should be interesting!

GLTA!