Another currency pair worth looking at for a potential selling opportunity is the CHF/JPY.
It appears that last week's 100 basis point rate cut by the Swiss Central Bank has resulted in a weak Swiss Franc. The CHF/JPY is in a downtrend and rallied up to the 81.60 area before finding resistance. After entering into a sell, traders should place their stop above that resistance and look for twice that risk in profit potential for the 1:2 risk:reward ratio.