FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 38 institutional desks. No promotion.
Japanese Yen Forecast: MUFG Says Fed Driving USD/JPY To 40-Year High Exchange Rates Org UK
| Firm | Stance | YE 2026 |
|---|---|---|
| Bearish |
| 159.60 |
Bank of America | Bullish | 149.00 |
Rabobank | Bullish | 145.00 |
All 22 desk targets for USD/JPY
Desk synthesis pending
We’re writing the institutional analysis for this note — multi-section body, firm-by-firm alignment chips, key takeaways, market implications, risks. The synthesizer processes the queue hourly, with priority by citation density.
In the meantime, the most useful reads are the related coverage below — it reaches the same substance from different angles.
How we cover this story
French OAT repricing widening EUR/USD spreads vs Treasuries maintains structural headwind for euro through risk-off sentiment.
Elevated eurozone political risk narrows the valuation case for EUR, creating technical support levels worth monitoring on EUR/USD dips.
USD/JPY trades 2.71% above the 24-firm Dec-26 consensus of 154.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.
Spot USD/JPY trades 2.81% above the 24-firm Dec-26 consensus of 154.0, with a 25.5-figure dispersion exposing deep disagreement on the BoJ rate path.
USD/JPY trades 2.65% above the 24-firm Dec-26 median of 154.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.
22 investment banks see USD/JPY at 154.17 by Dec 2026
View the live USD/JPY forecast