In yesterday's analysis, I expected UJ to have some sort of tight consolidation near the 104.70 key support zone showing further weakness and downwards breakout possibility, which was exactly what the market performed. In today's trading session, I will be favor short-term selling opportunities as UJ is currently showing an exhaustion pattern as well. As RSI is approaching the oversold region (30), I will be looking for pullback entries with 103.700 support zone as the target.
However, do not forget the overall trend on the higher timeframe remains bearish.
Trade safe.
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