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    USD to JPY 2025 Forecasts

    Analysis of recent dollar → yen forecasts for 2025. We collate forecasts from respected FX analysts together with the latest US dollar to Japanese yen performance and trends.

     

    Forecasts for USD to JPY

     

    The USD/JPY exchange rate is currently facing downward pressure, primarily driven by weak U.S. inflation data and President Trump's vocal critique of the Federal Reserve's interest rate policies. The U.S. dollar (USD) has slipped to approximately 145.6 JPY, just 1% below its three-month average of 147. This range has seen significant volatility, with a fluctuation from 140.9 to 152.3 within the last quarter. Analysts suggest that the recent downturn in the dollar could lead to increased scrutiny on its future performance, especially as upcoming retail sales figures are expected to further impact market sentiment.

    Trade dynamics are also in flux, as President Trump implements tariffs, including a 24% reciprocal tariff against Japan. These moves have added to the overall uncertainty surrounding U.S.-Japan trade relations, potentially affecting the yen's (JPY) safe-haven status. Economists from MUFG Research have revised their long-term outlook for the USD/JPY pair, projecting a decrease from the current levels to about 154.00 by Q1 2025, followed by a gradual decline to 148.00 by Q4 2025. However, recent trends in the yen's value may prompt a reassessment of these forecasts.

    The Japanese yen typically strengthens amid global economic uncertainty, and current geopolitical tensions, including the ongoing trade disputes and other international crises, have reinforced its role as a safe-haven asset. As the Fed's stance remains dovish amid economic forecasts of potential recession, further depreciation of the dollar could support JPY appreciation, especially if investors shift towards safer assets.

    Oil prices also play a critical role in shaping the USD/JPY dynamics. Currently, oil is trading at approximately 65.41 USD, which is 5% below its three-month average of 68.83. The oil market has been extremely volatile, with a 27.3% range from 60.14 to 76.54. Since Japan is heavily reliant on imported energy, shifts in oil prices can significantly impact the yen. An increase in oil prices could weaken the yen further by exacerbating Japan's trade deficits, yet prices below average may alleviate some of these pressures.

    Overall, the USD/JPY forecast is influenced by a mix of trade policies, geopolitical events, and economic performance indicators. The interplay between tariffs, inflation data, interest rates, and global market sentiment is crucial for those engaged in currency transactions, as fluctuations can lead to substantial variances in costs for international dealings. Keeping abreast of these developments will be essential for making informed financial decisions.

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    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 =
    145.64We compare provider deals to this wholesale mid-market rate. Read more
    JPY
    -0.1%
    USD to JPY at 145.6 is just 1.0% below its 3-month average of 147, having traded in a fairly volatile 8.1% range from 140.9 to 152.3
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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.

     
    DateUSD/JPYChangePeriod
    02 May 2025
    144.90
    0.3% 2 Week
    15 Feb 2025
    152.35
    4.6% 3 Month
    16 May 2024
    155.40
    6.5% 1 Year
    17 May 2020
    107.21
    35.5% 5 Year
    19 May 2015
    120.49
    20.6% 10 Year
    21 May 2005
    107.98
    34.5% 20 Year
    USD/JPY historic rates & change to 16-May-2025
     

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    Will the US dollar rise against the Japanese yen?

    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.

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    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