In yesterday's analysis, I expected UJ to hold above the 103.700 support zone
, which was exactly what the market performed. In the recent analysis, I expected UJ to have some short-term bullish
momentum due to the probe at 103.000 key support zone
, over-extended condition, and the higher low sequence being formed. Currently will be looking for short-term buying opportunities ONLY if 103.700 support zone
holds, with 104.700 resistance zone
as the initial target, further target will be 105.550 if the bullish
momentum retains. However, do pay attention to 104.29 minor resistance level
(daily high). Do not forget the overall trend on the higher timeframe remains bearish
Will keep it updated on Monday (18th Jan) during the Asia session. Trade safe.
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