@otieonosmall, here is my take on this.

The trajedy in Japan has created a severe global crisis. Example, previously Toyota produced 40 000 new cars a day, Honda and Nissan ,20 000 cars each per day. Most of the factories have been shut down since the earthquake/tsunami. Since the crisis which has been compounded by the crippling of Japan's Nuclear plants (energy),most suppliers for manufacturing companies have been offline. Energy is the engine which oils the economy. Without energy, the economy grounds to a halt. Japan is the world's largest supplier of micro chips which are used in most electronic goods including computers.

This is severely affecting global supply.With limited supply and great demand at least in the short term, prices will inch upwards. I think this is one of the reasons the yen is on an upward trajectory.