We open Buy positions for two reasons. Firstly, the Japanese government plans to extend coronavirus restrictions until mid-May, inasmuch as the country still has a difficult epidemiological situation due to poor vaccination of the population. Large-scale vaccination of the population is observed now only in the United States and the rest of the world’s largest economies are substantially lagging behind the Americans. This factor will put pressure on the Japanese yen.

Secondly, the bullish rally in the US stock market is positive for the USDJPY, insofar as the currency pair has been historically correlated with the North American stock market.

Investment idea: Buy 107.40/107.15 and take profit 107.80.