In yesterday's forecast, I expected UJ to continue grinding upwards with 104.700 as the initial target. However, due to the correlation & higher timeframe picture, we might not see UJ approaching 104.700 resistance zone. If you look at the previous data, every time when RSI approached (62 - 70) zone, it tends to rotates downwards. Currently will remain neutral bias and observe the price action of it, if selling pressure kicks in, the initial target will be around 103.000 technical support zone. Do not forget the overall trend on the higher timeframe remains bearish. The vertical dotted line is for your reference (RSI).
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Comment:
Previous analysis
