A mixed background is being formed today. On the one hand, the surplus of dollar liquidity in the financial system will have a negative influence on the quotes of this currency pair, inasmuch as investors will get rid of dollars and direct their capital to high-yield assets.

On the other hand, a continuation of the uptrend in the US stock market can provide support for the USDJPY, inasmuch as the currency pair has been historically correlated with the S&P500 index, which is one step away from its historical maximum.

Trading recommendation: flat 109.15-109.85.