Post #16045

The Battle of Central Banks: CHF/JPY CHF/JPY has been in a strong uptrend, but now you’re starting to see cracks—a break in trend and loss of the 50-day SMA, with bearish signals finally showing up after a long stretch of strength. Fundamentals: This is a central bank battle. On one side, the SNB is pushing back against CHF strength, effectively capping upside. On the other, the BoJ is signaling it won’t tolerate excessive yen weakness—putting a soft floor under JPY. That creates a unique setup where both sides are creating an alignment in trend. Fundamentally, CHF isn’t as strong as price suggests either—data has been underwhelming, reinforcing that upside cap. Meanwhile, Japan still has a longer-term path toward tightening, even if intervention timing is uncertain.