Whilst both the Swiss franc and the Japanese yen are safe-haven currencies, it’s interesting to note that the yen has remained the favoured currency as trade wars have developed. This has saw CHF/JPY drop to its lowest level since January’s flash crash last week, and if trade wars are to heat up once more, we could see it return to its trend.
So it’s worth noting that China stated they have “little interest” in resuming trade talks with the US, which could see things heat up once more. Given prices are now compressing below key resistance, we’re waiting for signs that bearish momentum is ready to revert to its trend. Matt Simpson takes a technical look.
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