I’d rather just trade EUR/JPY, it’s basically the same thing because of the peg but let’s take a long-term view of CHF/JPY.

It touched a 23-year high today at 109.40, breaking through the 2011 high of 108.70. The long-term chart looks like a massive head and shoulders pattern targeting somewhere in the neighborhood of 145.00 but I don’t really trust CHF charts because of the peg.

CHFJPY monthly chart

CHFJPY monthly chart