The rally in the Japanese stock market provides good support for the USDJPY. The market is now actively circulating rumors that the Central Bank of Japan will be forced to increase the stimulus package for the rapid recovery of the economy of the Land of the Rising Sun after the “coronacrisis”.

I note that there were similar rumors in the middle of summer, but then the Central Bank did not increase stimulus. It is not known how it will be this time, the market loves such rumors and may continue to grow. Against this background, the decline in quotations to the nearest support levels should be used to open Buy positions.

Trading recommendation: Buy 110.00/109.75 and take profit 110.45.