USD/JPY is right up against the highs of the year
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USD/JPY has risen 45 pips to a session high of 159.39, influenced by an energy crisis impacting Japan's economy, which relies heavily on energy imports. The rising import prices amid inflation concerns are critical, especially with Brent crude above $100. The next resistance level for USD/JPY is 161.95, with potential implications for Japan's inflation and global sovereign yields. Despite the currency's rise, Japan remains relatively quiet, but this situation could change as energy prices continue to affect the economy.
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