Since the beginning of Ukraine vs. Russia clash, USD/JPY has experienced a drastic increase since May which is even higher than its acceleration last year and at the start of 2021.

Smaller support moving averages like the 20 SMA (gray) and the 50 SMA (yellow) are shown in the chart below. Due to a sudden decrease in the JPY, this pair has gone up to almost 15 cents during the period.
Despite the fact that the inflation rate has been rocketing up in European countries and the US this year, its pace has been sluggish in Japan and therefore one of the main outcomes of a bearish trend in the Yen. Although this has resulted in the sharp and sudden rise of interest rates by central banks, the Bank of Japan still has time to manipulate.
The latest headline CPI report shows a rise from 0.9% to 1.2% which isn’t in accordance with the minimum expectation of 1.3% and is even way much lower compared to the West.

CPI Inflation report of Japan for March
CPI inflation YoY 1.2% vs. anticipated 1.3%
CPI’s February headline was 0.9%
Core CPI YoY except Fresh Food 0.8 vs. anticipated 0.8%, core CPI for February was 0.6% (its most towering state since January 2020 is 0.8%)
Core CPI YoY except for Food and Energy -0.7% vs. anticipated 1.1%
The previous core CPI was -1.0%
According to a Japanese government official, the disappearing effect of reducing cell phone fees has led to a rise in the headline CPI rate. It is anticipated that inflation news is upgraded in the Bank of Japan’s meeting which will be held next week. Therefore, the JPY will most likely be kept at a disadvantage and thus USD/JPY rising.