- February 10, 2026
- Posted by: EWGFX
- Category: Technical analysis
Conservative LDP faction controls Japan’s House of Representatives → accepts weak JPY, high debt in exchange for growth.
Market expects JPY to continue structurally weakening → USD benefits relatively.
USD maintains strength causing capital to withdraw from safe-haven channels, including gold.
In this context, gold still reacts to geopolitical risks,
but lacks strong macro conditions to reopen a sustainable upward trend.
ROUTE MAP – KEY PRICE ZONES
UPPER ZONE – SELL REACTION ZONE
5250 – 5350
FVG H4
Fib 0.786
Old distribution zone
If price approaches but cannot hold, the recovery ends.
5400 – 5450
High FVG
Only when clearly accepted, the upward structure is reactivated.
LOWER ZONE – SUPPORT / SHORT-TERM REACTION
4920 – 4950
Fib 0.5
Current recovery FVG
Balance zone – prone to tug-of-war.
4800 – 4820
Fib 0.382
Important H4 support.
4600 – 4650
Liquidity low
Extended scenario if USD pressure continues to dominate.
HOW LUCASGRAY VIEWS THE MARKET NOW
News is creating short-term momentum, but not reversing the structure.
Quick recovery in price easily triggers emotions,
but the market only speaks the truth when it holds key price zones.
We focus on:
Observing reactions at FVG + Fibonacci
Clearly distinguishing:
Scalp based on intraday reactions
and structural acceptance for swing
Further updates will continue based on actual price reactions, not predictions.