The dollar rose against the yen, meaning the dollar strengthened and the yen weakened.

In the past few years, many institutions have borrowed cheap yen to buy U.S. stocks, Bitcoin, and other risk assets—this is what is commonly referred to as the yen carry trade.

When the dollar continues to strengthen and the yen continues to depreciate, on one hand, it indicates that funds are still flowing into dollar-denominated assets; on the other hand, it also means the Bank of Japan may face greater exchange rate pressure in the future.

If Japan subsequently chooses to raise interest rates or intervene in the exchange rate, it could force some carry trade funds to buy back the yen, thereby reducing their allocation to risk assets.

Last year, the unwinding of yen carry trades triggered synchronized volatility in global risk assets.

So I'm not focused on the number 162 itself.

Instead, I'm paying attention to whether it will continue to break out quickly, and whether the Bank of Japan will release new policy signals next.