After hitting a record high, the CHF/JPY pair has reversed course and fallen; attention is now turning to its ability to rebound

After hitting a record high, the CHF/JPY pair has reversed course and fallen; attention is now turning to its ability to rebound

22.09.2025

Last weekend, the U.S. dollar saw a seesaw movement against the yen. The USD/JPY pair began to decline ahead of the Bank of Japan’s monetary policy meeting.It fell as low as 147.205. However, the dollar recovered during U.S. trading hours. It eventually rose to 148.286. On the 4-hour chart, the 200-day SMA is acting as a support level, causing prices to rebound, while on the daily chart, the pair is currently attempting to break above the 200-day SMA at the upper boundary of the range that has been in place since last month.

Among European currencies, the Swiss franc weakened against the yen. The CHF/JPY pair fell from 186.816 to 185.758. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the price has broken below the 20-period MA, which had previously served as support, and on the daily chart, the pair is currently pulling back from its all-time high. We will need to watch for any directional cues to see if the Swiss franc continues to weaken against the yen at the start of the week.

Today’s key events include remarks by RBA Governor Block at 10:00, Canadian industrial production and the Canadian raw materials price index at 21:30, the Chicago Fed National Activity Index, remarks by MPC member Pill at 21:30, remarks by NY Fed President Williams at 22:45, the Eurozone consumer confidence index at 23:00, and remarks by Fed Governor Musalem:St. Louis Fed President, at 1:00 AM: German Bundesbank President Nagel’s remarks, and at 2:00 AM: U.S. Federal Reserve Governor Milan’s remarks. After hitting a record high and then reversing course to fall, we will be watching for a rebound in the CHF/JPY pair.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed