This currency pair has renewed its annual maximum this morning, and I expect the continuation of the uptrend in the near future. The Conference Board’s US Consumer Confidence Indicator, which is based on a survey of about 5,000 American households, rose to an annual maximum in March, signaling an acceleration in economic growth in the United States.

Against this background, I expect new records in the US stock market, which will have a positive influence on the USDJPY pair, inasmuch as assets are correlated with each other. The VIX “fear” index dropped to an annual minimum, which also confirms the interest of investors in the American stock market.

Investment idea: Buy 110.60/110.40 and take profit 111.00.