CHF/JPY +138

by know everybody knows that JPY is just getting stronger and stronger. When we have "flight to safety" in currency world, that means that people are selling AUD, CAD, NZD, GBP, and EUR, and buying JPY, USD, and CHF. In this case we have battle of the two "safety nets". Both central banks are saying that their currency is too strong and that will have an effect on their economy. They might be right, but that will not stop traders from buying their currency. Both of the central banks tried and experienced the pain of intervention on the currency market that did not lead them anywhere. To make this short; JPY is overboght on so many levels, and we have some what of Risk-on on the market. Technical aspect will help our trade, but needles to say that we have to keep an eye on market developments, cause things get get ugly "in a jiffy" :)