No important events are expected today.

The correction in this currency pair is advisable to use for purchases in the expectation of continuation of the uptrend. Firstly, the yields of the US government bonds have grown strongly at the debt market, at the same time the yields of the Japanese securities practically did not change due to the reluctance of the Japanese Central Bank to change its monetary policy. As a result, the rate differential rose in favor of the dollar, and traders have no choice but to buy this currency pair.

Secondly, I expect a continuation of the uptrend in the American stock market, which is also favorable to this currency pair, as assets correlate with each other. The U.S. dollar liquidity is rising and the corporations will start buying back their stocks on Tuesday, February 21, which will give additional support to the SP500 index.

Recommendations: Buy 134.20/133.75 and TP 134.86.