Goldman Sachs forecast the downward course for Dollar to Yen to continue with a USD/JPY rate of 95 in the near future.
NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.
Earlier in the year the threat of proxy war between the US and Iran in Ira helped bring on gains in the Japanese yen and US dollar plus currencies pegged to the greenback such as the Hong Kong dollar.
Last year, HSBC warned against thinking that yen-supporting safe-haven flows would soon stop, implying that the yen could have more upside potential in the near term. The bank highlighted the “desolation and destruction” (an exaggeration) present in many major economies and currencies. “You can never get too high,” the bank’s chief analyst said.
You can also read our full Foreign Exchange Guide to Japan.
This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.
For example, the following table looks at the change in the USD to JPY exchange rate to the present day for periods going back upto 10 years:
|USD/JPY||Period to 22-May||Date||Rate|
|0.5% ▲||1 Week||15 May 2020||107.0535|
|0.2% ▼||30 Days||22 Apr 2020||107.8303|
|3.5% ▼||90 Days||22 Feb 2020||111.5850|
|1.8% ▼||1 Year||23 May 2019||109.5549|
|11.4% ▼||5 Years||24 May 2015||121.5380|
|19.7% ▼||10 Years||25 May 2010||89.8789|
Note the Japanese yen is a low value currency, against the US dollar it is normally quoted as USDJPY that is the number of yen per 1 US dollar.
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