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    How BestExchangeRates can Save you Money in Japan

    For over a decade BestExchangeRates.com has been a trusted voice in foreign exchange in the United States and globally.

    BestExchangeRates compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.

    We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.

     


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    Japanese yen Market Update

    BestExchangeRates.com keeps you up-to-date on Japanese yen forecasts by collating the views of reliable FX forecasters and economists together with recent 90-day JPY price data. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.

     

    According to recent analyst forecasts, the outlook for the Japanese Yen (JPY) against major currencies remains relatively stable, with some varying predictions for the coming years. ING predicts a decline in the USD/JPY pair to 130 by the end of 2024, whereas Societe Generale forecasts it to reach 125. Additionally, ING anticipates EUR/JPY to stand at 143, while Societe Generale expects levels around 140. TD Securities analysts also foresee the USD/JPY hitting 135 in early 2024, especially as the Bank of Japan (BoJ) may be nearing the conclusion of its current monetary policy stance.

    Goldman Sachs, however, offers a contrasting view, suggesting that the yen could fall to 155 against the US dollar, marking its lowest level for the key USDJPY pair since the 1990s. The influencing factors on the USD to JPY exchange rate are likely to include the US-Japan interest-rate gap, global oil price fluctuations, and the yen's safe-haven status. Recent price data indicates that the JPY to USD pair has been trading near 7-day highs at approximately 0.006669, albeit 2.5% below its 3-month average. Meanwhile, the JPY to EUR exchange rate sits near 60-day lows around 0.006168, and the JPY to GBP pair stands at 0.005283, both showing slight decreases compared to their respective 3-month averages. FX analysts suggest that developments in global markets and central bank policies will play a crucial role in shaping the trajectory of the Japanese Yen in the coming months.

     
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