If history is anything to go by UJ is a great setup at the moment. Spot positioning is heavy long in the pair giving further validation for a down move to shake out weak longs.
USD longer term is still very bullish.. consequently load up on shorts into the 92.00 area meeting up with trend line support from late 2012. There is a good possibility of a fake break of this trend line which would provide additional opportunities to cover and load up on longs for several months into the 108 area.
Interesting times ahead!
USD longer term is still very bullish.. consequently load up on shorts into the 92.00 area meeting up with trend line support from late 2012. There is a good possibility of a fake break of this trend line which would provide additional opportunities to cover and load up on longs for several months into the 108 area.
Interesting times ahead!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.