Countless attempted in the H4 that this pair was unable to break out of the bear channel. CCI is below 100, if Monday it opens with a CCI bar lower than the previous, this will be a good RR short trade.
Comment:
UJ has broken out of the bear channel on the monday afternews mad rush. I would foresee Uj will returb back to 110 to retest the broken resistance channel and if the resistance becomes the new support, i would see that achieving 112 for UJ is seemingly possible.
However, taking note that the breakout of the channel is accompanied by low volume, it is building up a bearish divergence therefore, i still hold my stand that this pair is short bias.
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However, taking note that the breakout of the channel is accompanied by low volume, it is building up a bearish divergence therefore, i still hold my stand that this pair is short bias.