We open Buy positions for two reasons. Firstly, several representatives of the Bank of Japan said that the current stimulus program should be maintained for a long period of time, inasmuch as the Japanese economy is not coping with the consequences of the coronavirus pandemic as quickly as it wants. This is a negative signal for the Japanese yen, insofar as the monetary authorities will actively print money, which will put pressure on the national currency rate.

Secondly, the US Treasury will hold an auction for the placement of treasury bonds in the amount of $60 billion, which will have a positive influence on the dollar rate.

Trading recommendation: buy 114.05/113.75 and take profit 114.50.