Chart suggests unless this is a false breakout that Zip can go to $2.88 but be aware that the unwinding of the Japanese carry trade is on the immediate horizon where everything will be sold off regardless of fundamentals
RICE CRISIS HITS JAPAN HARD AS PRICES SOAR
Rice prices in Japan have reached an all-time high, leaving queues and rationing a daily reality.
The cost of a 60kg bag of rice, now over ¥26,400 ($184), has more than doubled since last year’s poor harvest.
Farmers and wholesalers are accused of stockpiling, fueling public anger.
Prime Minister Shigeru Ishiba has sacked his agriculture minister and tapped Shinjiro Koizumi to lead reforms.
Critics blame decades of protectionist policies for the mess.
With an election looming, Ishiba’s government faces mounting pressure to fix Japan’s rice supply and tackle inflation head-on.
Source: Financial Times
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