In yesterday's forecast, I expected UJ to have further continuation with 103.700 as the support zone
, the market did not really perform much, just ranging across. Today's setup is similar, currently looking for short-term buying opportunities as UJ is creating higher low sequence on the 4h chart finding 103.700 as the support, as long as this zone holds, will remain short-term bullish
bias with 104.700 resistance zone
as the initial target, but do pay attention to 104.29 level. If 103.700 support zone
is breached, we could expect bearish
pressure pushing price back towards 103.000 zone.
However, do not forget the overall trend on the higher timeframe remains bearish
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