USD continues to be under pressure amid the Fed's increasingly dovish tone, while Japan's economic data has yet to show any signs of a reversal. Judging from the technicals, USDCHF has met heavy resistance and seems to be on its way down given price action in the current consolidation phase. CHFJPY, on the other hand, is also in a narrowing consolidation phase right above major support. There could be an opportunity to enter a long with CHFJPY, which is the more ideal pair to express the strengthening CHF view due to overnight swap for a short USDCHF eating into potential profits. Currently have a short on USDCHF, now looking to buy CHF against JPY. 
Note
USD ended up rising, closed position. Bullish triangle for USDCHF to hold.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.