UJ is advancing its CD wave and might completed at 1.618% @ 110.482 and given us a good opportunity to enter short at this point. Wave might also extent up to 2.618% @ 112.00 which sound too ambitious. Entering short at 110.482 and placing a stop loss at slightly above intraday resistance ( 111.350 ) is my idea for this pair.
This pair is still in ascending wedges and still has the potential to hit a new high within the pattern in the future. Apparently Short term opportunity arise since there is a partial rise and failure to touch the upper trend line. The price is expected to move downwards to set a new higher low in this pattern.