Important events are not expected today.

During the last month in the debt market, we see an increase in the profitability spread of government bonds of both Japan and the United States. The spread widened to the maximum for major currency pairs – by 0.4%.

The currency market is very sensitive to such changes in spreads, and this expansion indicates that the USDJPY pair is ready for growth at the maximum of January. Therefore, a decline to support levels may well be considered for placing long positions in the pair.

Recommendations: Buy 115.13/114.85 with TP 115.75.