I've been discussing about the upwards breakout of 106.90 key resistance zone since 2nd March. In yesterday's analysis, I expected UJ to have further bullish momentum, which was exactly what the market performed. In today's trading session, I will remain neutral bias due to the current over-extended condition (RSI, 82). The best way to trade the current condition is to utilize the 18ema to guide your long entries, as there's no static S&R zone. We might see some ranging/ consolidation today, be cautious of the NFP announcement later.
Trade safe.
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Trade safe.
Do follow my profile for daily fx forecast & educational content.