The market has been very long CHF for a long time now but some of the reports from the interbank market in recent days have suggested that the big move lower in the JPY was making these CHF longs nervous.

EUR/CHF has just broken above 1.3200 and there’s now the possibility of a double-bottom forming. This along with some bullish MA crossovers will be making the CHF longs even more nervous. Could be a big move brewing in this pair.