Mitsubishi UFJ Financial Group Inc. Slips despite BOJ Stimulus Hopes

Asian shares, including Mitsubishi UFJ Financial Group Inc. (MTU), have been trading lower since Friday. The stock’s performance was weighed down by a rocky performance on Wall Street. Meanwhile the yen hovered near two-week lows as traders wagered the Bank of Japan will add to its massive stimulus before long. On the hourly chart, MTU closed down -2.80% at $4.51. The RSI is 32.45, near the oversold zone, indicating that the selling power is strong and the stock may continue falling.

Trade suggestion

Sell at 4.51, Stop loss at 4.52, Take profit at 4.505

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