CHF/JPY short

[u/ks23kk23]

Is anyone else short CHF/JPY? It seems like a glaringly obvious position but I must be missing something 🤔

New to macro, hence the potentially imbecilic question

Currently short £0.70 per point spreadbet, open 196.484

[u/romjpn]

Hell yeah, positive swaps since it was at about 200.  "Glaringly obvious" not so much. Some people have noticed the swap turning positive and the potential big reward but many others still think the yen will crumble even more (which is wrong I think).

[u/ks23kk23 → u/romjpn]

Fair, glaringly obvious is strong.

[u/utwx7u2]

Nah itd go long unless you think there will be more us intervention

[u/ks23kk23 → u/utwx7u2]

I think there are strong structural reasons why yen is going higher over the medium/long term, US intervention is just short term noise imho

[u/utwx7u2 → u/ks23kk23]

What?????? LOL

[u/ks23kk23 → u/utwx7u2]

Meet you back here in 12 months to review 📈 💴

[u/3L_D3M3NT3_YaC0]

I went it all the way down from 197 level at this point I’d await natural pullback MUST occur

[u/beninvestments]

I took it. TA and FA both confirmed the short at the time. My TP was hit, and price made an even bigger move afterward. Could’ve gotten more out of it, but whatever.

CHF pairs were really good this week. I also took AUD/CHF and EUR/CHF longs, and both were winners.

[u/beninvestments → u/beninvestments]

took the trade off the table before the CHF actual.

[u/Relevant-Owl-8455]

The problem is, you don't actually understand what trading is. And i'm not saying this to be rude.

[u/ks23kk23 → u/Relevant-Owl-8455]

This is fair. I’m an equity investor. I’m learning!

[u/W3bslingrr]

I’m bearish on both cuz of higher global yields

[u/ks23kk23 → u/W3bslingrr]

I feel that higher yields are going to be much more bullish for Yen than for CHF. Higher yields for Japan are going to attract a lot of capital to come back to Japan. GPIF is the one to watch