The CHF/JPY currency pair, which expresses the value of the Swiss franc in terms of the Japanese yen, can be considered a risk-neutral currency pair by virtue of the fact that both the Swiss franc and the Japanese yen are conventionally viewed as safe-haven currencies.
Safe-haven currencies like CHF and JPY are usually considered as such due to a few select factors. These factors apply to the countries of these countries. CHF is the currency of Switzerland and JPY is the currency of Japan. The factors include domestic political stability; current account surpluses (i.e., exports