Daily Outlook for Dollar/Yen Short

U.S. Dollar/Japanese YenFXCM

Description

⋅ Jun 2, 2014 2:35 AM

There is a Butterfly pattern on the daily chart. Price has been ranging around the 38% fib level. There is also another bearish butterfly pattern on the 4hr chart. I believe this is continuation for a downtrend to Target 2 at the 61.8% fib level.