CHF/JPY represents the currency pair of Swiss Franc and Japanese yen, two of the leading safe haven currencies of the world. The cross currency pair represents two currencies that traders turn to in times of high economic uncertainty and turmoil in global financial markets, and as a result, this pair experiences considerable volatility due to significant political and economic developments around the world.In addition, the CHF and JPY experience fluctuations in value upon the release of key economic data from Switzerland and Japan respectively, including GDP, employment, CPI, retail sales, business sentiment, industrial production, trade balance and consumer consumption. Monetary policy and interest rate decisions by the Swiss National Bank (SNB) and the Bank of Japan (BOJ) also drive price action in CHF/JPY.Both safe haven currencies are also impacted by economic and political developments in the US. Important economic data releases from the US like the NFP, CPI, consumer confidence, and the Fed's monetary policy and interest rate decisions also cause changes in the exchange rate of the CHF/JPY.This currency pair experiences greater volatility due to external factors than events taking place within Switzerland and Japan. As a result, predicting its movement through analysis can be very challenging, especially when compared to other leading forex pairs.