USD/JPY forecasts change all the time, affected by news events and relative sentiment towards the US and Japanese economies and this exchange rate is even more volatile than usual because of the uncertainties around the Coranavirus pandemic.
SEB Group see the USD/JPY rate at 110 by the end of 2021. As “Data in Japan continue to struggle, requiring the Bank of Japan to remain dovish” (keep interest rates low). SEB went onto say that “The sustainability of the bullish trend in USD/JPY depends on the tolerance of the Fed for higher yields”.
The JPY has lost value as markets appreciate positive market sentiment associated with Joe Biden’s election win and vaccine news. JPY Markets
USDJPY at 108.4has risen 1.0% above its 90-day average, range 103.5-110.7.
The foreign exchange market convention for USD/JPY is to quote Japanese yen as Yen per US dollar. Thus a higher USD/JPY rate actually means one yen is worth less, that is you can buy more yen for 1 USD.
Whether the US dollar will rise or drop in the future against the yen is a difficult question and the answer really depends on many factors. The best way to consider the current USD-JPY relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.
12 Apr 2021
20 Mar 2021
19 Jan 2021
19 Apr 2020
20 Apr 2016
22 Apr 2011
USD/JPY 10 year historic rates & change to 19-Apr-2021 : 108.15
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