Possible short trade on the YEN

This pair have not been tracking the Dollar index lately none the less price still looks like it needs to correct. It's currently looking short but it has a tendency to spike down and then continue on up. For this reason allow it to establish itself below the trend line before looking for a short trade set up. If it doesn't go short this week it will soon so do not look for a long trade before we at least get a correction of this latest move up.

I'll update my analysis as price develops so remember to follow to receive them.

Any one trying to learn Elliott Wave Theory can find a free comprehensive Building Blocks video course on my website see my profile for the link.

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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

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Possible short trade set up