In yesterday's analysis, I expected UJ to have an upwards breakout of 106.90 resistance zone. However, I've noticed that the breakout wasn't strong enough and it's rather choppy. In today's trading session, I will remain neutral bias. If the bullish pressure continues, I'll be looking to long the market after some minor pullback. The area of value in this case would be the short-term moving averages (6 & 18ema) as if the strong bullish momentum remains intact. However, any sudden strong selling pressure pushing back into the ascending channel would invalidate the long setup.
Trade safe.
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Trade safe.
Do follow my profile for daily fx forecast & educational content.