In yesterday's analysis, I discussed above the current corrective behaviour of UJ, forming an exhaustion pattern (Flag) after the rejection from 102.64 support level (Initial impulse). Today's setup will remain similar, looking for short-term buying opportunities, a violation of the pattern could send price towards 104.27 & 104.70 resistance zones. However, be aware that a downwards breakout of the pattern could also send UJ towards 103.000 support zone. Do not forget the overall trend on the higher timeframe remains bearish.
Trade safe.
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