Stock Market Forecast and Outlook, Dollar/Yen for This Week

Here is the updated chart for the USDJPY short trade that I have been discussing on Twitter with some of my currency friends. This trade is "speculative," meaning that there is not a confirmed breakdown for the trade. I am entered at 100.47 as of yesterday, with a stop above the daily candles.  Weakness here would be consistent with the equity play off the 50 DMA, which I have been discussing. There is an uber bearish Elliott Wave Count on the chart below, but that is not particularly important as it is not what this speculative trade is based upon. I don't take trades off Elliott Wave counts for the most part. If (middle word in life), USDJPY were to break down here, a lot of short setups would trigger and long stops off the June low could also be flushed. I have the initial target area for the uber bearish move on the chart, though I will likely trail a stop like I normally do and not worry about bottoming ticking a harvest if this goes down. Here is the chart: Again, this is a speculative setup, and not a prediction or call. I am just following the chart. Hope your summer is treating you well and hope to be back to more detailed and regular updates by end of July. Peace, Om, SoulJester