About CHF/JPY
CHF/JPY is a safe-haven cross - both the Swiss franc and the Japanese yen attract capital during periods of global uncertainty, so the pair tends to trade in relatively narrow ranges during normal conditions (30-60 pips daily). Unlike most pairs that rally during risk-on and fall during risk-off, CHF/JPY often moves sideways as both currencies benefit simultaneously. The pair breaks out of its range when one safe haven is preferred over the other - typically driven by the interest rate differential between the SNB and BOJ. The SNB's negative-rate policy versus the BOJ's near-zero-but-not-negative stance creates a subtle carry differential that can drive multi-week trends. Key events include SNB quarterly assessments, BOJ policy meetings, and global risk events that test safe-haven demand. CHF/JPY is also correlated with gold prices, as Switzerland holds substantial gold reserves.
Historical Rates - Last 7 Days
| Date | Close | Change |
|---|
| 2026-08-22 | 198.3730 | +1.00% |
| 2026-08-23 | 198.6900 | +0.16% |
| 2026-08-24 | 198.4552 | -0.12% |
| 2026-08-25 | 198.3401 | -0.06% |
| 2026-08-26 | 198.5596 | +0.11% |
| 2026-08-27 | 197.7904 | -0.39% |
| 2026-08-28 | 198.1190 | +0.17% |
See full price history on the historical rate lookup tool.
Frequently Asked Questions
What is the pip value for CHF/JPY?
One standard lot (100,000 units) on CHF/JPY has a pip value of approximately $504.75. The minimum price increment (tick) is 0.01. A pip is typically the second decimal place for this pair, meaning 1 pip = 0.01 for yen pairs.
What time is CHF/JPY most active?
CHF/JPY sees its highest trading volume during the Tokyo and London sessions. Cross pairs like this one see their best liquidity during the overlap of their two currency sessions. Outside of those windows, spreads may widen and order book depth can decrease.
What economic events affect CHF/JPY most?
The most impactful events for CHF/JPY come from the CHF and JPY economies. Bank of Japan policy decisions, including any changes to yield curve control, are the yen's highest-impact events. Japan's Tankan business survey and GDP data also matter. The upcoming events section above lists the specific releases scheduled in the next two weeks.