It is advisable to use a decrease in quotes in this currency pair to open Buy positions with the expectation of a continuation of the upward trend for two reasons. Firstly, today the US Treasury will hold an auction for the placement of Treasury bonds in the amount of $46.3 billion, which will provide short-term support for this currency pair.

Secondly, the Chinese government understands the seriousness of the bankruptcy problem of the developer Evergrande and, against this background, buys out the company’s high-quality assets so that it has the opportunity to pay off its obligations. This is a positive signal for the stock markets, as well as for the USDJPY, inasmuch as assets have been historically correlated with each other.

Trading recommendation: Buy 111.60/111.35 and take profit 112.11.