Before I leave I like to to post one more chart example. UJ was just great today. two winners and better yet it avoided the loser... all during the 2nd and 3rd hour of EU open. trade 2 as you see the Pullback was strong enough to press over the 5ema ...
I agree,I have marked the same canal on my chart for uj, considering the bull move this is a normal pull and it's got room for even more. However, still it is a 400 pips bear move, rather strongly, that should not be taken lightly IMHO.