This currency pair has confidently renewed its four-year maximum. The uptrend is gaining momentum, and now I see no reason to change the trend. Firstly, the United States has delighted us with positive macroeconomic statistics. Retail sales in October came out better than market expectations. Investors expected weak results against the background of a sluggish labor market, but things turned out to be not so bad.

Secondly, the world’s leading stock markets are showing growth again, which is also positive for the USDJPY, inasmuch as it has historically been correlated with stock markets. The leaders of the United States and China held telephone talks yesterday, where they agreed to cooperate on key issues, which was positively received by investors.

Thirdly, on the interbank market in London, the benchmark three-month Libor rate has renewed its six-month maximum, which indicates a strong demand for the American currency from the world’s largest banks.

Trading recommendation: buy 114.65/114.40 and take profit 115.11.