Direct answer
CHF and JPY do not reliably move together in a fixed, predictable way. In forex, whether CHF and JPY appear correlated depends on the time period and on what is driving each currency (for example, interest-rate expectations, inflation data, or risk sentiment). When people say “they move together,” they usually mean that returns in CHF-related and JPY-related price series are correlated over a chosen window—correlation is an observed relationship, not a rule.
How “move together” works in practice
“Moves” usually refers to price changes, often measured as returns over the same time interval (e.g., hourly or daily). To test whether CHF and JPY move together, you typically compare two time series that represent CHF and JPY strength in the same direction: for instance, a CHF rate versus a JPY rate, or CHF’s performance against multiple currencies versus JPY’s performance against multiple currencies.
A key clarification is that CHF/JPY itself measures the relative movement of CHF versus JPY. If CHF/JPY rises, that means CHF is strengthening relative to JPY (or JPY is weakening relative to CHF). That does not automatically imply that “CHF and JPY both move together versus the entire market,” because it is a comparison inside one exchange rate.
A simple factual comparison can use correlation of returns: compute correlation between CHF-related returns and JPY-related returns for the same dates. If correlation is near zero, there is no stable evidence of “moving together” for that window. If correlation is positive or negative, it indicates they tended to co-move for that period—but this relationship can shift when the underlying drivers change.
Example checks and verification criteria
-
Use the same time frame: compare CHF and JPY series over identical start/end dates, with the same frequency (daily closes vs intraday). If the window changes, the apparent relationship can change.
-
Use consistent definitions: decide whether you measure spot price changes, log returns, or percentage returns. Different definitions can lead to different results.
-
Compare multiple windows: check several non-overlapping periods (e.g., different months). Stable co-movement across many windows is stronger evidence than a single short sample.
-
Separate “pair movement” from “currency strength”: the behavior of CHF/JPY (relative strength) is not the same as whether CHF and JPY both trend in the same direction against all other currencies.
Limitations and uncertainty
There is no way to guarantee that CHF and JPY will move together because forex is influenced by changing macroeconomic expectations and market risk sentiment. Correlation is descriptive: it summarizes past co-movement within a chosen window, and it can weaken or reverse as conditions change.
Also, without real-time data and without specifying your exact measurement method (which series, what frequency, what return definition), you cannot conclude “they move together” for a particular current period. For independent verification, rely on your own data, consistent settings, and a clear definition of “move together” (for example, statistical correlation of returns).