UJ is a really tricky customer. There seems to be quite a bit of long sentiment at this level which leads me to believe there is further weakness to come. I propose we are in the descending 4th wave of an ascending triangle with a downside target of +- 99.50, before the final 5th wave begins and takes us into the 108 handle.
I would not be surprised if we get an overthrow in the 5th wave as depicted, until heavy resistance is met in area of the multi year/decade trend line drawn. Of course as this is a weekly chart a lot of patience is needed to see how this one will turn out.
I would not be surprised if we get an overthrow in the 5th wave as depicted, until heavy resistance is met in area of the multi year/decade trend line drawn. Of course as this is a weekly chart a lot of patience is needed to see how this one will turn out.