In yesterday's analysis, I talked about a potential Buildups happening on UJ, which is exactly what the market is doing now. Build up phase is an early breakout sign, as sellers try to push it lower but failed, banging the ceiling multiple times.
In today's trading session, I will be focusing on the similar view. If there's an upwards breakout above 107.00 key resistance, that could send UJ much higher. However, if there's a sudden strong bearish momentum stepping in pushing it back into the ascending channel, that'd invalidate the breakout setup. Ideally, we need to see some tight consolidation at the current price zone.
In today's trading session, I will be focusing on the similar view. If there's an upwards breakout above 107.00 key resistance, that could send UJ much higher. However, if there's a sudden strong bearish momentum stepping in pushing it back into the ascending channel, that'd invalidate the breakout setup. Ideally, we need to see some tight consolidation at the current price zone.