A slow finish to the week for UJ as it struggled to break through resistance at 111.581. Although slightly oversold on the daily time frame, intra-day times tell me theres a little more upside to UJ before we see a move back down towards the 110.000 area. So I'm looking long here. With plenty of US economic data on the horizon, I'm expecting this pair to break the resistance level of 111.581 and head for the trend line and .382 Fib at 112.460 area. The only hurdle that the pair has in it's way of 112.460 is a weak intra day resistance level near 112.140. On the lower side. We have intra-day support around 111.050, followed by daily support around 110.070 and finally the 200 SMA which sits around the 109.00 level. But as I said earlier, I'll be looking long in the near term for UJ.
