Although studies are in the zones where short moves usually start, UJ remains a conundrum at the moment. GJ already started it's rampage downhill but UJ and EJ stubbornly cling to recent highs. So, will it drop?
Based on the technical picture at hand, especially PA, and regardless of the fact that studies are showing signs to start looking for a short position entry level, this is not yet the time to go short on UJ. It looks like price wants to test rsst at 104.12 and possibly higher at 104.30 where WPR1 is with a spike.
If so, I recommend to go short from those levels. Or if short from here (103.95), then have a wide SL and add to the position as price gets closer to the aforementioned rsst levels.
Good luck.
Based on the technical picture at hand, especially PA, and regardless of the fact that studies are showing signs to start looking for a short position entry level, this is not yet the time to go short on UJ. It looks like price wants to test rsst at 104.12 and possibly higher at 104.30 where WPR1 is with a spike.
If so, I recommend to go short from those levels. Or if short from here (103.95), then have a wide SL and add to the position as price gets closer to the aforementioned rsst levels.
Good luck.
Comment:
TP not reached and closed out earlier for a puny profit.
