The FX market's bellwether for risk sentiment, AUD/JPY, is expected by NAB at ¥78 at the end of 2020.
AUD to JPY has gained value in stock markets appreciated with positive market sentiment associated with Joe Biden’s election win and vaccine news. At the beginning of November AUD/JPY was ¥73.5 and has risen around 7 percent, achieving National Australia Bank’s prediction of ¥78 by the end of 2020
Japan’s efficient management of COVID-19 leaves the economy well-positioned for recovery, and the yen could benefit. As other developed countries have reduced interest rates to stimulate their economies the yen is now not the only “low-yield currency”. As a result, it has seen renewed demand from investors and could prove popular outside its usual safe-haven role. December Update
You can read more about AUD cross-rate forecasts here AUD Trends and Forecasts for 2020.
Whether the Australian dollar will rise or drop in the future versus the yen is a difficult question and the answer really depends on many factors. The best way to consider the current AUD-JPY relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.
15 Jan 2021
|0.1% ▲||1 Week|
23 Dec 2020
|2% ▲||30 Days|
24 Oct 2020
|7.1% ▲||90 Days|
23 Jan 2020
|6.7% ▲||1 Year|
24 Jan 2016
|3.8% ▼||5 Years|
25 Jan 2011
|2.1% ▼||10 Years|
AUD/JPY 10 year historic rates & change to 22-Jan-2021 : 80.0653