Since beginning of the year after we had BOJ step into the market and announced his stimulus program CHFJPY has been going nowhere. In fact the only notable thing is that we have made a new high above the high we made in the 2011 summer. That high was put in place right after we had the SNB intervention.
This pair is stuck between the battle of the biggest central bank in the world SNB and BOJ, which has kept the pair in a tight ranging zone in the last months. The fact that we couldn't stay …