Today was published statistics on industrial production in Japan, which in April rose by 0.3% against growth of 3.8% in the previous period. It is worth noting that analysts had forecasted a decline by 1.4%. On an annual basis, industrial production fell by 3.5%. According to the forecasts, the growth rate in May will be 2.2%. The negative impact on the index had an earthquake in the middle of April. According to our estimates, the Bank of Japan will continue to stimulate the growth of inflation in the country, together with the tightening of monetary policy in the US will lead to an increase in USD/JPY to 114.70, 116.60 in the coming months.