USD/JPY: US Vice President Biden pledges to defend US interests

As US Vice President Biden pledges to defend US interests against China, the USD/JPY recovers from 131.00.
After correcting below 131.00 during the Asian session, the USD/JPY pair has noticed a buying activity. In response to comments made by US President Joe Biden during his second State of the Union (SOTU) speech and first in front of a split Congress, the asset has seen an increase in demand. The USD/JPY pair retreats a few pips from a three-week high reached earlier this Monday as it tries to take advantage of its somewhat positive gap opening. The pair is currently trading slightly below the 132.00 level, yet up more than 0.50% for the day, and it appears that it will continue to appreciate.