FX.co ★ Forecast for USD / JPY on December 21, 2018

USD / JPY

The Japanese yen did its best to keep under pressure from the stock market but did not withstand yesterday's low blow. The American Dow Jones index collapsed 1.99%, the S & P500 sank 1.58%, at the moment the price fell by 163 points and exactly worked out the support of the downward price channel.

At the moment, the price is trying to reach above the level of 111.40 (minimum on October 26), perhaps it will succeed, since quite good data on expenditures and incomes of consumers are forecasted for the USA, by 0.3% in the November estimate. But a lot will depend on the stock market itself, which does not yet feel supported. Yen can once again test this lower limit of the price channel. But, we believe, on this the fall of the yen will end and there will be growth. At least until January 14, when the Brexit vote in the English Parliament.