The price of the Japanese yen continues to strengthen against the background of increased demand from investors due to rising concerns about the prospects for growth on the global stock markets. The main risks for further growth is slowing in China's industry and weak prospects in the euro area. It should be noted that today the Bank of Japan announced that the current easing program will continue until the rate of inflation of 2.0%. At the same time, he noted the negative impact of significant fluctuations of the yen on the market. Despite the current high demand, we expect a further decline in the yen due to loose monetary policy in Japan and its tightening in the United States.