elevatedinvestor

CHFJPY +300 Pips Coming Soon?

Long
FOREXCOM:CHFJPY   Swiss Franc / Japanese Yen
Here Is the Idea

Target - We have tons of equal highs on the monthly and I believe we will be making a run for them this week or at least sometime this month.

I like the fact we respected an old support level + cleared 3-4 weekly lows + reversed on them and closed above.

This is the type of behavior I like to see. The close above the lows shows not only were the lows bought up, but price should remain above them now as institutions protect their positions.

The next logical target is 118-119 which is about 300-400 pips north of price.

Last week we also made a new high after clearing the lows.

It also helps the Yen looks weak overall for this week, and maybe next. The swiss also looks strong across the board. Strong/Weak= ^
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