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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 USD/JPY outlook is currently bullish-to-range-bound, as it trades above the 90-day average and sits in the upper half of the 3-month range.

Key drivers:

  • Rate gap: The U.S. Federal Reserve is expected to maintain interest rates higher relative to the Bank of Japan, which is tightening policy but from a lower base.
  • Risk/commodities: Oil prices are above average, which can support the USD, as higher oil prices often signal stronger global demand.
  • One macro factor: The Bank of Japan's recent rate hike and a substantial fiscal budget could impact inflation dynamics and further BoJ policy decisions.

Range: The USD/JPY is likely to hold in its current trading range, possibly testing recent highs.

What could change it:

  • Upside risk: A stronger U.S. labor market report could boost the USD further.
  • Downside risk: A dovish tone from Federal Reserve officials could weigh on USD strength.

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 =
158.53We compare provider deals to this wholesale mid-market rate. Read more
JPY
1d+0.3%▲
 
USD to JPY at 158.2 is 1.6% above its 3-month average of 155.7, having traded in a quite stable 4.7% range from 151.9 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