USDJPY and USDCHF
Since mid-June of this year, the USDJPY has failed to close above the 20ema and has rejected off of it 12x while continuing to find lower ground. We feel the threat of intervention is less than 10% at the moment so until we reach 80, we feel selling at the 20ema is still a great play as the line in the sand has been drawn and we have yet to see any heavy movement on the long side by any means. Look for intraday sells off the 20ema with relatively tight stops above wile targeting the 83.70 lows for this week.
This one is also a no-brainer as its relatively the same trade. Other then …