Intervention risks abound as the Japanese yen can't get off the floor
USD/JPY has been poking and prodding at levels above 160.00 since last week. And traders are yet to find much conviction to take things to the next level. Intervention risks are very much heightened at this stage, with current levels being where Tokyo last decided to take action
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Rabobank | Bullish | 145.00 |
ING | Bullish | 152.00 |
MUFG | Bullish | 152.00 |
All 25 desk targets for USD/JPY
Desk synthesis pending
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Sources & References
How we cover this story
Cross-firm research
USD/JPY Consensus Check: Spot at 158.51, Target 156.0 — Week of November 7, 2026
USD/JPY trades at 158.51, 1.61% above the 25-firm median Dec-26 target of 156.0, with a 30-figure dispersion signalling deep disagreement on the BoJ-Fed spread path.
USD/JPY Consensus Check: Spot at 158.24, Target 156.0 — Week of Nov 6, 2026
USD/JPY trades 1.44% above the 25-firm Dec-26 consensus of 156.0, with a 30-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.
USD/JPY at 157.82: Consensus Targets 156.0 but Spread Spans 30 Figures
Spot USD/JPY trades 1.17% above the Dec-26 cross-firm consensus of 156.0, with a 30-figure dispersion exposing deep disagreement over the BoJ-Fed rate spread.