Pair CHFJPY
Most traders prefer to trade only the most popular currency pairs on Forex, while other, no less interesting,
trading tools are ignored.
The CHFJPY pair falls into this category; it consists of the base currency of the Swiss franc, and the Japanese yen is the quote currency.
A rather interesting combination allows for profitable trading during the Asian Forex session, since it is at this moment that the price is more susceptible to change.
That is, the instrument is more suitable for traders who prefer to work at night or in the morning; this state of affairs is due to the fact that the main events in the yen occur during the Asian session, while the Swiss franc is a more stable currency.
The CHFJPY pair has sufficient volatility ; the difference between the minimum and maximum price over a 24-hour period can be 100-500 pips. This is more than enough for profitability; the largest price fluctuations occur during the Bank of Japan's exchange release, which often initiates interventions in the national currency.
Another advantage of choosing this currency pair is the small spread; some brokers offer a minimum of just 0.1 pips.
Trading is most effective during price increases, as fewer corrections occur during this time.
Almost any forex strategy , but extreme caution should be exercised when the price reaches significant lows, due to the high probability of Bank of Japan intervention and a sharp price reversal.
