CHFJPY long signal

Hi everyone!

Very nice long opportunity on CHFJPY. As usual, lets go point for point on what we see on the chart :

1) The pair is in a long term uptrend. We see that, well, just by looking at the chart

2) The price has remained above MA 50,100 and 200 and it is respecting the MA50 (green line). We can see that it has approached it several times and it has rebound from there and go higher every time. In the last 72 hours the price has approach it again and once again it has jumped higher.

3) The price is also respecting the trendline that started in October. Also, and since at the moment it is very similar to MA50, the pair has approached it in the last 72hrs and has gone higher.

4) We see that the price has just broken an important area of resistance invalidating the H&S pattern that was forming.

5) It has also formed a higher low and it is on its way to form a higher high (sign of bullish trend)

6) Absolute Strength Histogram has just turned bullish

7) Smart money is entering to this pair, and that is the kind of money we need to make the move sustainable ( we see that by an increase of red columns on our top indicator )

8) RSI remains above 50 meaning the overall trend is still bullish

All those reasons give me confirmation that the price could keep going higher and retest the 114 area that has been resistance in the past. Once there we will reevaluate and see if the price can continue this bull run.

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