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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.

 

The market bias for USD/JPY is currently bearish.

Key drivers include the interest rate differential between the U.S. and Japan, as the Federal Reserve is expected to implement rate cuts by mid-2026, while the Bank of Japan (BOJ) has recently raised rates to tackle inflation. This contrast may weigh on the dollar. Additionally, Japan's improving business sentiment suggests potential future rate hikes, supporting the yen. Recent price movements show USD/JPY trading at 156.6, which is above its three-month average, indicating increased dollar strength but within a stable range.

In the near term, USD/JPY is likely to remain within a consistent range but with potential volatility. Upside risks could arise from stronger-than-expected U.S. economic data, while downside risks include any unexpected interventions from the Japanese government or adverse shifts in global risk sentiment, which may impact the yen’s performance.

Watch market reactions to data releases and central bank communications for potential shifts.

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.

 
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1 USD =
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JPY
1d+0.2%▲
 
USD to JPY at 156.6 is 1.2% above its 3-month average of 154.8, having traded in a quite stable 4.9% range from 150.4 to 157.7
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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.

DateUSD/JPYChangePeriod
24 Dec 2025
156.00
0.3% ▲2 Week
09 Oct 2025
153.03
2.3% ▲3 Month
07 Jan 2025
158.23
1.1% ▼1 Year
08 Jan 2021
103.95
50.6% ▲5 Year
10 Jan 2016
116.88
33.9% ▲10 Year
12 Jan 2006
113.97
37.3% ▲20 Year
USD/JPY historic rates & change to 07-Jan-2026

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