Apex_Gregg
Long

CHF JPY WILL BREAK RESISTANCE

FX:CHFJPY   Swiss Franc / Japanese Yen
We can see from our support and resistance zones that price has been respecting these levels for a while and price is once again currently in our resistance zone , but this time we can see price breaking this resistance and moving higher to the upside because of recent bullish candles coming into this zone.

If we take a look at the monthly chart you can see plenty of buying power due to last months candle having a really long lower shadow, this indicates that sellers weren't strong enough to push price lower and buyers took over, this is the reason combined with this months bullish candle we can see price breaking resistance level on the 4H chart.

So we will be setting some orders around this level to catch it if price breaks, price might have a short pullback before breaking ( this is the reason for setting orders instead of buying at current market price )

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