After President Trump said he would stop raising tariffs for 90 days, people felt a bit safer, but stock prices fell again the next day. Because the trade fight between the US and China got worse, people in the European market started buying the Swiss franc, which is seen as a safe currency. Against the Japanese yen, the Swiss franc rose quickly from around 171.50 to 175.50 yen.
The yen is also a safe currency, but worries about trade problems between Japan and the US made the Swiss franc stronger than the yen. Still, some people think Switzerland may lower interest rates more, while Japan is expected to keep its current rate plan.
The price area between 176 and 177 yen has stopped rising many times in the past, so there is a high chance that people may start selling again soon.
Expected CHF/JPY Range: 176.00 – 174.00
Note: This information does not promise profits. Please make your own decisions when trading.