A mixed background is being formed today. On the one hand, we can expect a decline in quotations, inasmuch as the surplus of dollar liquidity will have a negative impact on the value of the American currency in the interbank lending market.

On the other hand, an uptrend in the US stock market could support USDJPY insofar as this currency pair has been historically correlated with the S&P500 index. Today, the US Federal Reserve will announce the need to maintain the current monetary policy. This is a good signal for the stock market! Fed’s head Chairman D. Powell has a personal interest in the growth of the stock market, since his $55 million of personal savings are placed in the index fund of one of the largest American investment companies Vanguard.

Investment idea: flat 103.35-104.20