I'm just following where I think there is liquidity/ shifts and this is a great example of it.
First things first, we just took out the July 30th low.
Immediately after doing so price rallied to clear Friday's high.
If you look at the last several days of trading the candle sizes and speed have been very consistent, and making lower lows but today it widened and switched.
See how today's candle is wider? This can show us that could be increasing.
I also like the fact that equal highs were cleared, which shows me there was institutional profit taking today (from shorts).
With increasing and yesterdays high cleared I think UJ is range bound, or at least taking a breath.
In my world that means the banks want to build a rotation. I'm looking for price to draw back down to the first "unload" because I believe this is the price that the institutions are interested in.
I think this could be the lowest we see UJ for the rest of the year, we need more data though.
Some of my long term targets are 107.20, 112, and 115.