SteveNixon
Short

Weekly Forecast For the Dollar/Yen

FX:USDJPY   U.S. Dollar / Japanese Yen
In line with my monthly outlook for this pair price has been moving tentatively short - any further movement down will depend on the dollar index             which also looks short. Take any downward movement on DXY             as a signal for this to move to the channel bottom. Do not trade unless you see a correct set up.

I'll update my ideas as they develop
First rule of trading - Protect your capital

Anyone trying to learn Elliott Wave Theory can find a FREE comprehensive Building Blocks video course on my website. See my profile for the link.

You can also follow updates via twitter (link from my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck
Steve Nixon - logicfxtrading
Comment: Another correct forecast so far. Provided the dollar continues to weaken we should see this come even deeper. Any correction with in the channel could present a shorting opportunity.
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