In yesterday's analysis, I discussed about the upwards breakout of the trendline (exhaustion pattern), which was exactly what the market performed. UJ is currently finding weakness, but as long as the 103.700 support zone holds, will remain bullish bias due to the higher low sequence and potential re-test of the trendline. Currently looking for short-term buying opportunities after a re-test of 103.700 support zone with 104.700 & 105.550 resistance zones as targets. However, be aware if there's bearish rotation violating the 103.700 support zone, that could signal short-term bearish sentiment sending UJ back towards 103.000 next support level. Do not forget the overall trend on the higher timeframe remains bearish.
Trade safe.
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Trade safe.
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Previous analysis
