Now there are two positive factors that will affect the course of trading. Firstly, the continuation of the upward trend in the American stock market, inasmuch as the US Federal Reserve will not raise the interest rate for a long time, which is good for the stock market and this currency pair, insofar as assets are historically correlated with each other.

Secondly, the head of the Bank of Japan, H. Kuroda, announced that the monetary regulator is ready to increase the stimulus program in the near future to ensure a rapid recovery of economic growth in the Land of the Rising Sun, which is facing the serious consequences of the second wave of COVID-19. This is a negative signal for the Japanese yen.

Trading recommendation: Buy 108.95/108.70 and take profit 109.45.