FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 36 institutional desks. No promotion.
Way to kick someone when they're down. As USD/JPY makes its way back up and threatens to take a look at the 160 level again, Goldman Sachs is out with a note arguing that intervention from Japan's ministry of finance alone will not be enough to keep a lid on the currency pair. Th
| Firm | Stance | YE 2026 |
|---|
Morgan Stanley | Bullish | 140.00 |
UOB | Bearish | 159.80 |
ING | Bullish | 152.00 |
All 23 desk targets for USD/JPY
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How we cover this story
USD/JPY trades 2.18% above the 23-firm Dec-26 consensus of 156.0, with a 25.5-point dispersion reflecting sharply divergent BoJ and US yield assumptions.
USD/JPY trades 2.1% above the 23-firm median Dec-26 target of 156.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ rate path.
USD/JPY trades at 159.09, nearly 2% above the 23-firm Dec-2026 consensus of 156.0, with a 25.5-point dispersion signalling deep disagreement on the BoJ-Fed spread path.
23 investment banks see USD/JPY at 154.22 by Dec 2026
View the live USD/JPY forecast