CHF/JPY(Swiss Yen)

What is CHF/JPY?

CHF/JPY pairs the Swiss Franc against the Japanese Yen. Both are classic safe-haven currencies — they strengthen during global risk-off events. The cross effectively trades the *relative* safe-haven appeal: when Asian risk drives flows into JPY, CHF/JPY falls; when European/global risk drives flows into CHF, CHF/JPY rises.

Daily ranges of 60 to 100 pips are typical. The pair uses the 2-decimal yen-pip convention (one pip = 0.01).

Base currency

CHF (Swiss Franc, Switzerland)

Quote currency

JPY (Japanese Yen, Japan)

Pip location

2nd decimal (0.01) — yen-quoted

Volume share

under 0.5% of daily global forex turnover

When to trade CHF/JPY

CHF/JPY is most active during the Tokyo + early London overlap (8 PM to 7 AM ET). BoJ events drive Tokyo-session moves; Swiss data and SNB events drive London-session moves.

Avoid the late-NY window — both home markets are dark.

Best session

Tokyo + London overlap (8 PM to 7 AM ET)

Avoid

Late NY (3 to 5 PM ET)

News events that move CHF/JPY

BoJ and SNB rate decisions are the highest-impact scheduled events. Both central banks are famously unpredictable; surprises move the pair 100-200 pips in minutes.

Unscheduled risk-off events (equity selloffs, geopolitical shocks) move CHF/JPY based on which safe-haven the market favors at the moment — usually JPY in Asia-driven shocks, CHF in European/geopolitical shocks.

Central banks

Swiss National Bank (SNB), Bank of Japan (BoJ)

Key releases

SNB rate decisions, BoJ rate decisions, Global risk events, Swiss CPI, BoJ press conferences

Want the full event calendar? See the economic calendar, and look up unfamiliar terms in the forex glossary.

CHF/JPY FAQ