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Chart alert: USD/JPY breaches above 160 (21-month high), ignoring intervention risk
The movement of the USD/JPY has a significant direct correlation with WTI crude. They move in tandem as Japan imports approximately 95% of its crude oil from the Middle East, and oil fuels Japan’s key export-oriented sectors like automotive and manufacturing. Hence, without any clear signs from the US and Iran to reopen the Strait…
