In the recent analysis, I discussed about the potential bullish reversal on UJ as I noticed a probe at 103.000 key support zone followed by a higher low sequence violating a healthy downtrend. Currently will be looking for short-term buying opportunities with 104.700 & 105.550 resistance zones as targets, as long the current support zone holds (103.600 - 103.700), remain bullish bias as it could be a typical exhaustion pattern before further bullish continuation. However, If we noticed a sudden selling pressure kicks in violating the current support zone, we could expect short-term bearish rotation with 103.000 support zone as the target. The current price action is slightly choppy, avoid having your targets too far. Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
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Trade safe.
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Friday's (15th Jan) analysis
