Whilst I wouldn't be so foolish as to exclude a bullish continuation as part of newly forming wave 3 (with the C-D points on the chart being wave 1 and the fallback to form a wave 2), I would be surprised if UJ didn't retest its long held falling trendline at least once.
Still with the bearish view hat on, though, maybe something like this is what we're seeing .. with a possible double TL retest. Obviously, a break above 78.3 would lessen (and definitely above 79.5 would cancel) any short term bearish view.
Still with the bearish view hat on, though, maybe something like this is what we're seeing .. with a possible double TL retest. Obviously, a break above 78.3 would lessen (and definitely above 79.5 would cancel) any short term bearish view.
