After (correctly) going bullish on the U.S. dollar in April 2018, we see a topping process underway in greenbacks. Some foreign currencies are even starting to look attractive on the long side.

As Hedgeye CEO Keith McCullough explains in the clip above, you have to pick and choose carefully, as our outlook for the dollar slowly changes in the coming months.

“When you think about the pivot from Quad 4 to Quad 3, think about it as a dollar topping process,” McCullough explains.

“And one of the ways to play that on the back door is the Yen. The Yen can be one of those places that are a flight to safety when the dollar is being debauched. There are a lot of bearish trends against the dollar, but there are a couple bullish trends. That’s new.”

Watch the full clip above for more.

Here’s How To Play the U.S. Dollar Topping Process - real time alerts