Based on current market structure, UJ iS maintaining a bearish trend. Last week we saw a push to the upside and now price is at a resistance level and a previous high. If we get a push to the upside and price takes out the previous high, we're in for a reversal and we'll see a move to our next zone (109.000). If we continue our current bearish trend I am expecting a move to 104.000 support level.
Comment:
Price is moving as expected. UJ has pushed away from our resistance level and is now pushing to the downside. If price has any intentions of pushing higher we'll most likely see 105.000 play as support for a reversal, otherwise price will make its way to 104.156