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USD to JPY 2026 Forecasts

Analysis of recent dollar → yen forecasts for 2026. We collate forecasts from respected FX analysts together with the latest US dollar to Japanese yen performance and trends.

 

USD/JPY Outlook:

Bearish, as the rate is below its recent average and approaching recent lows, pressured by weak US economic signals.

Key drivers:

  • Rate gap: The Federal Reserve has paused interest rate cuts, maintaining a cautious stance while the Bank of Japan recently raised rates to combat inflation, widening the interest rate gap.
  • Risk/commodities: Oil prices are currently high, which can strengthen the yen as Japan is a major oil importer; high oil costs could weaken the dollar further.
  • One macro factor: Recent disappointing US retail sales raise concerns about consumer spending, impacting the dollar negatively.

Range:

Expect the USD/JPY to hold within its recent range, though trailing below the average may force it to test lower extremes.

What could change it:

  • Upside risk: A stronger-than-expected US jobs report could boost USD demand significantly.
  • Downside risk: Further deterioration in US economic data could deepen bearish pressure on the dollar.

USD-JPY Rate Calculator

 
   
   
   
   
 
   
 
 

USD to JPY Market Data

US dollar (USD) to Japanese yen (JPY) market data - latest interbank exchange rate, trend, chart & historic rates.

 
Sell USD   →   Buy JPY
1 USD =
153.13We compare provider deals to this wholesale mid-market rate. Read more
JPY
1d−0.9%▼
 
USD to JPY at 154.5 is 1.1% below its 3-month average of 156.2, having traded in a quite stable 4.5% range from 152.3 to 159.1
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Compare & Save - US dollar to Japanese yen

Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Japanese yen (JPY) rates from different sources before making a conversion.

Use our USD to JPY calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Dollar to Yen currency rates and the possible savings of using various providers.

 
 

Will the US dollar rise against the Japanese yen?

This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the US dollar vs Japanese yen current value is to look the USD/JPY historic rate and change over a range of periods.

The following table looks at the change in the USD to JPY exchange rate over periods from the previous week back to the last 10 years.

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add USD/JPY to your personalised Rate Tracker to track and benefit from currency movements.

 
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Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.

Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending

 

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more