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JPY to USD 2024 Forecasts

Analysis of recent Yen → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Japanese yen to US dollar performance and trends.

 

Forecasts for JPY to USD

 

Based on recent currency market updates and analyst forecasts, there are divergent views on the future direction of the JPY to USD exchange rate. The Bank of Japan's pivot in March was perceived as underwhelming by markets, leading to a drop in the yen. Analysts predict varying levels for the USD/JPY rate by the end of 2024, with ING forecasting it to fall to 130 and Societe Generale expecting it to reach 125. Additionally, TD Securities analysts foresee the USD/JPY reaching 135 in early 2024 following the Bank of Japan's decision to end its negative interest rate stance. However, there is also a possibility of the JPY finding support in the second half of 2024 if the Federal Reserve completes its rate cuts by then.

The USD has remained underpinned by reduced expectations for Fed rate cuts, with markets adjusting their predictions based on strong economic data. The US Dollar may experience muted trade as investors await the Fed's upcoming interest rate decision. Analysts suggest that the Fed is unlikely to cut rates in March given the robust US job market performance, although a rate reduction could still be on the table later in the year. The recent pricing of the USD/JPY pair near 90-day lows reflects the market's current sentiment, which is influenced by factors such as the US-Japan interest-rate gap, global oil prices, and the yen's safe-haven status.

In summary, the future trajectory of the JPY to USD exchange rate remains uncertain, with conflicting forecasts and market dynamics at play. Traders and businesses looking to navigate these fluctuations should closely monitor upcoming economic data releases and central bank decisions to make informed decisions on their international transactions.

 

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JPY to USD Market Data

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

 
1 JPY =
0.006608We compare provider deals to this wholesale mid-market rate. Read more
USD
+0.2%
📈1W
JPY to USD is at 7-day highs near 0.006611, 2.2% below its 3-month average of 0.006757, having traded in a relatively stable 7.7% range from 0.006595 to 0.007101
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Compare & Save - Japanese yen to US dollar

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

Use our JPY to USD 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 Yen to Dollar currency rates and the possible savings of using various providers.

 
DateJPY/USDPeriod
10 Mar 2024
0.006812
2 Week
25 Dec 2023
0.007030
3 Month
25 Mar 2023
0.007648
1 Year
26 Mar 2019
0.009044
5 Year
27 Mar 2014
0.009783
10 Year
29 Mar 2004
0.009471
20 Year
JPY/USD historic rates
 

Will the Japanese yen rise against the US dollar?

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 JPY/USD to your personalised Rate Tracker to track and benefit from currency movements.

 
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Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.

 
 

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