stephenleachman
Short

USD/JPY WEEKLY OUTLOOK

FX:USDJPY   U.S. Dollar / Japanese Yen
105 1 6
As we can see on this USD/JPY-0.35% weekly chart, Last week we broke out of consolidation which yielded in a strong move to the downside. This week we should see a continuation of the downwards momentum, We are setting up for that right now. Watch for a break of last week's Thursdays low for conformation if so this pain will probably see 1105.44

From the Head and Shoulder a measured move will take us right into that 1105.44 level which is also a confluence with major structure support .

I have mapped out 3 levels on this weekly chart to start watching for immediate reversals. I would not go aggressive on the long side We should see another week with strong down side.
Steve, I thought you said you point of view very well.
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