No important events are expected today.

There is a mixed background today. On the one hand, the decline in U.S. government bond yields will have a negative impact on the value of the dollar and it is wise to open “shorts” in this currency pair. On the other hand, I expect the American stock market to rise, which is positive for USDJPY, since the currency pair is historically strongly correlated with the SP500 index.

A Santa Claus rally in the US market has not been cancelled, and the SP500 index has another 3 days to put the hypothesis into practice. Since the US MoF and the Fed are not going to interfere with the investors with their operations to decrease the dollar liquidity, the stock market may show some growth.

Recommendations: flat 132.50 – 133.45.