In the previous analysis, I expect UJ to have further bullish continuation upwards, which was exactly what the market performed. In today's trading session, I will remain neutral bias. Two scenarios that I'm looking at
1. As the current market condition is at extreme overbought, I would favour some short-term Mean Reversion setups to potentially re-test the short-term to medium-term EMAs (18 & 50emas)
2. If the bullish momentum continues, I will avoid chasing it due to the insensible Risk-to-Rewards.
Stay flexible.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. As the current market condition is at extreme overbought, I would favour some short-term Mean Reversion setups to potentially re-test the short-term to medium-term EMAs (18 & 50emas)
2. If the bullish momentum continues, I will avoid chasing it due to the insensible Risk-to-Rewards.
Stay flexible.
Trade safe.
Do follow my profile for daily fx forecast & educational content.