USD/JPY is near the highest level since 1986 as divergence with the Fed intensifies
FUNDAMENTAL OVERVIEW USD: The US dollar surged across the board on the more hawkish than expected dot plot (the consensus was looking for no cuts or hikes this year). The median dot showed one rate hike this year and some of those hawkish members pencilled in multiple hikes. By p
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | Bearish | 160.20 |
ING | Bullish | 152.00 |
Rabobank | Bullish | 145.00 |
All 23 desk targets for USD/JPY
Desk synthesis pending
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Cross-firm research
USD/JPY Consensus Check: Spot at 158.89, Median Target 156.0 — Week of August 24, 2026
USD/JPY trades at 158.89, roughly 1.86% above the 23-firm median Dec-26 target of 156.0, with a 25.5-point dispersion signalling deep disagreement on the BoJ-Fed spread path.
USD/JPY Consensus Check: Spot at 158.98, Week of August 22, 2026
USD/JPY trades at 158.98, roughly 1.91% above the 23-firm Dec-26 median of 156.0, with a 25.5-point dispersion signalling deep disagreement on the BoJ-Fed spread path.
USD/JPY at 158.89: Consensus Targets 152, Dispersion Spans 25.5 Figures
Spot USD/JPY trades 4.53% above the 23-firm Dec-26 consensus of 152.0, with a 25.5-figure range separating the most and least bearish desks.