Today the head of the Bank of Japan twice made statements. So, he hinted at further expansion of the stimulation program, which, together with the negative rates should lead to an increase in inflation to the target level of 2.0%. This effect can help financial institutions make a profit in the future, despite the current negative impact of negative interest rates. We do not expect the increase in stimulus measures at the next meeting of the Bank of Japan, but forecast this step in the coming quarters. In this regard, as well as because of the stabilization of the situation on the stock and commodity markets, we expect to see strong growth of USD/JPY pair with targets at 117.00, 118.80 and 121.50.