This weekend's G7 meeting sent EUR/JPY gapping a big figure lower on the open, and USD/JPY 80 points off the Friday close. Interestingly, the gap has not only been closed, but we are approximately 40 points higher than the Friday close. It seems that we're back to the usual business of Yen selling as the G7 eased pressure on Asian countries to allow their currency to strengthen. Yen has been, is, and will be in play for some time to come, but as I mentioned on Friday, the Swiss charts are showing some nice symmetry that offer better risk -reward. Sometimes when products are in the news too much, they lose some of their trading characteristics

EUR/CHF is showing a nice 87 point symmetrical pullback to .618 retracement at 1.5880. Let's look to get long between 1.5890 and 1.5880 with stops below the .786 retracement at 1.5854. Get very aggressive moving your stops to breakeven on an approach of the 1.5970 highs, because there is solid longer-term Fib resistance up there.

The 30 min USD/CHF chart is an even more impressive display of symmetrical relationships of neighboring price swings. We have a symmetrical relationship of measured move A-B compared to C projected down to D at 1.2507, a 1.0 Fib projection of the W-X to Y-Z at 1.2514, and the .618 retracement of B-C at 1.2505. In other words, 1.2500-10 is a powerful support zone that if tested, is a high probability entry zone before 1.2620 level gives way. Look to get long between 1.2500-15 with 1.2470 stops. Unlike, EUR/CHF, hold this one through the highs because we're targeting 1.2730.

Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.