Dollar Continues to Build Top vs Yen

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Although the Dollar Index (DXY) is up today, the Dollar is down vs Yen.

The big-picture chart below shows the toppy pattern that developed in the USD vs YEN during the May-Aug timeframe, which has been followed by a spike down, and “bearish” consolidation period that appears to be nearing completion.

If that proves accurate, then USD/YEN should roll over hard into a nosedive that revisits the Aug 24 low at 116.13.

Only an upside reversal and climb above 121.10 will begin to neutralize my current outlook.

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