Timonrosso

CHFJPY Heading up to 160.72 based on a Cup of T

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OANDA:CHFJPY   スイスフラン/円
Cup and Handle formed recently with CHF/JPY.
The price broke above the brim level, and is showing strong momentum up.
Other indicators confirm.
7>21>200
RSI>50
Target 160.72

SMC:
Sell Side Liquidity order block is below the Handle of the Cup and Handle.

A little concern is that there is BUY side Liqudity (Shooting Star) as of today and yesterday. This means, we could see the market come down a blip before it turns up again. It will give us a conservative entry point for those who aren't long or are long and want to pick up with their position even more.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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