In yesterday's analysis I expect UJ to have a bearish rotation as I spotted a repeatable pattern (RSI oversold) condition with weakness & overall higher timeframe structure as confluences at 104.270 zone, which was exactly what the market performed. Currently, will be expecting further selloff and choppiness. Do be aware that if price is again rejecting the 103.000 zone, it will complete a typical head & shoulder pattern which could lead to bullish reversal back towards the 104.700 resistance zone. However, do not forget the overall trend on the higher timeframe remains bearish.
Trade safe.
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Trade safe.
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