There was a small price rejection on the zone where the price touched daily EMA. Moreover, RSI indicator also show the sign of price convergence. Because of that, there is an opportunity for the price to keep going downtrend, therefore, UJ is more likely to keep going Short.
Short reasons
-Week : Weekly prediction
-Indicator : EMA is being touched (1D TF)
-Indicator : RSI is convergence (4HR TF)
-Price : There is a bearish price rejection candle (4HR TF)
Note : Watch out for the news and wait for the next movement confirmation
-US : FOMO meeting on Wednesday
-JPY : CPI on Thursday
-US : GDP on Thursday
-US : Core PCE on Friday
Good luck & have fun trading UJ !
Short reasons
-Week : Weekly prediction
-Indicator : EMA is being touched (1D TF)
-Indicator : RSI is convergence (4HR TF)
-Price : There is a bearish price rejection candle (4HR TF)
Note : Watch out for the news and wait for the next movement confirmation
-US : FOMO meeting on Wednesday
-JPY : CPI on Thursday
-US : GDP on Thursday
-US : Core PCE on Friday
Good luck & have fun trading UJ !