Important events today:

US: Finance Ministry Auctions.

Every day the media continue to ask questions to Japan’s Finance Minister Shunichi Suzuki about interventions aimed at strengthening the yen. The head of the Ministry of Finance responds by saying that he is constantly monitoring the currency market and his ministry is ready to sell US dollars to stabilise the exchange rate, but the time for such decisive actions has not come yet.

Speculators are still afraid to increase purchases of USDJPY, but they see the passivity of the financial authorities of the Land of the Rising Sun and therefore we can expect a new wave of growth in the quotes of this currency pair.

Recommendations: Buy 148.80/148.50 and TP 149.80.