The USD/JPY pair has rallied sharply, breaking above 148.20 during European trading hours today. This represents the highest level in a month for the currency pair. The surge comes in light of the agreement reached between the United States (US) and China during a recent meeting in Switzerland, which established a 90-day trade truce. This positive news has strengthened the US dollar significantly. As traders react to this development, the USD/JPY may continue to trend upward. Keep watching this pair for potential trading opportunities.