The original poster added the phrase "kernel-mode" in a comment to someone else's answer.
If the original question intended to ask about kernel mode, then it probably isn't a good idea to depend on / being a path separator. Different file systems allow different character sets on disk. Different file system drivers in Windows can also allow different characters sets, which normally cannot include characters which the underlying file systems don't accept on disk, but sometimes they can behave strangely. For example Posix mode allows a component name to contain some characters in a path name in an NTFS partition, even though NTFS ordinarily doesn't allow those characters. (But obviously / isn't one of them, in Posix.)
In kernel mode in Unicode, U+005C is always a backslash and it is always the path separator. Unicode code points for yen and won are not U+005C and are not path separators.
In kernel mode in ANSI, complications arise depending on which ANSI code page. In code pages that are sufficiently similar to ASCII, 0x5C is a backslash and it is the path separator. In ANSI code pages 932 and 949, 0x5C is not a backslash but 0x5C might be a path separator depending on where it occurs. If 0x5C is the first byte of a multibyte character, then it's a yen sign or won sign and it is a path separator. If 0x5C is the second byte of a multibyte character, then it's not a character by itself, so it's not a yen sign or won sign and it's not a path separator. You have to start parsing from the beginning of the string to figure out if a particular char is actually a whole character or not. Also in Chinese and UTF-8, multibyte characters can be longer than two chars.