An Intraday CHF/JPY Ascending Channel is Creating Scalping Environment

[Charles]

The CHF/JPY pair has been trading to the upside for much of 2011, for mainly two reasons: concern that the European sovereign debt situation would become the prevailing market theme for the year, with the Franc providing the most logical safe haven to its European counterpart; and, with the recent crisis in Japan, and the deterioration of the US Dollar, the Franc is now the only ‘true’ remaining safe haven currency.


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