On the one hand, we can expect a decline in quotations against the background of a surplus of dollar liquidity in the banking system. Interbank interest rates in the London and New York markets are near historical minimum, and this factor will have a negative influence on the value of the American currency. On the other hand, the continuation of the uptrend in the US stock market may encourage investors to buy USDJPY, inasmuch as the currency pair has been historically correlated with the S&P500 index.

Fed head Jerome Powell told Congress the day before that the monetary authorities will continue to buy Treasury and mortgage bonds in the current volume of $120 billion for a long period of time, inasmuch as inflation and employment indicators are far from the target values of the Federal Reserve. This is a positive signal for the stock market.

Investment idea: flat 105.15-105.85.