The price of the Japanese yen strengthened at this time in connection with several strong fundamental factors. Thus, instability in China supports the demand for protective assets. At the same time the price of USD/JPY is declining amid growing confidence on the absence of new incentives in the country. We forecast growth of price volatility in the second half of the week, and after a long consolidation, there is a high probability of strong price movement after the completion of consolidation of price. Our medium-term outlook for the yen remains negative.