The EUR/JPY pair was pushed much higher on Thursday as the Bank of Japan intervened by selling the Yen during the Asian session. By the time the day closed out, we saw about 90% of those gains erased. The fear out there in the markets make the Yen very attractive as it is a safe haven currency. Because of this, we think the BoJ is in real trouble, and are willing to sell rallies.
The EUR/CHF continues to make fresh lows, and as such - we are selling yet again. Anytime this pair rallies - we are selling. If we make another new low - we are selling.
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