Yesterday, Japan Prime Minister Abe announced the lifting of the state of emergency for Japan from the COVID-19 pandemic.
Earlier today, Bank of Japan governor Kuroda said in a released statement that the Japanese economy has been in an increasingly severe situation due to COVID-19 and will likely remain the case for the time being. CPI is also expected to remain weak as a result of the pandemic and the decline in crude oil prices.
Currently, USD/JPY is testing the of 107.800 and the next is at 106.200.
Look for buying opportunities of USD/JPY if it breaks the of 107.800.