In yesterday's analysis, I expected UJ to have further bearish
rotation towards 103.000 support zone
before buying pressure comes in. However, price had a minor fakeout at 103.700 support zone
and began finding buyers' interest in the market. Will be focusing on short-term buying opportunities today after some pullback with 104.700 as the initial target. However, do pay attention to yesterday's high (104.300 zone), a strong rejection of that level could lead to short-term selling pressure back towards 103.700. and do not forget the overall trend on the higher timeframe remains bearish
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