It is advisable to use a decrease in quotes to open Buy positions in the expectation of a high demand from investors for “risky assets”. Previously, we saw an increased demand for energy resources, industrial metals and shares. This situation is negative for the Japanese yen, as for the №1 funding currency in carry trade operations.

According to the CFTC, large speculators expect the decline of yen and have reduced their positions on the Japanese currency to a two-month minimum. Meanwhile, if you look at the positioning of hedge funds in the US stock market, most of them are increasing their purchases, which signals the growth of the S&P500 index to the psychological level of 4000 points. This is also a positive signal for this currency pair.

Investment idea: Buy 105.26/105.10 and take profit 105.66.