The Swiss unemployment rate decreased in January, but inflationary pressures remain absent. The Swiss National Bank increased its activity in the forex market slightly and continues to monitor the impact of the coronavirus on the global economy. The CHFJPY completed a breakdown below a strong horizontal support area, where will price action move from here? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Forex traders received more disappointing economic news with the disappointing Japanese Eco Watchers Survey outlook. The Japanese trade surplus came in stronger than expected, but forex traders are looking forward to January’s data to gauge the impact of the coronavirus. Will bears pressure for more downside in the CHFJPY, or can bulls step in and reverse the breakdown? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.