Not a pair I’ve been watching at all but the trade certainly does make sense. EUR/CHF has broken back below it’s previous major low at 1.43 and EUR/JPY has formed a beautiful basing pattern on the break above 125.50, ergo buy CHF/JPY. The 61.8% retracement of the 91.05/81.75 fall came in at 87.50 and that was the break-up level yesterday. Once through there it accelerated sharply and looks set to test the 91.05 high very soon. Once again a buy-dip strategy looks like a winner here.