FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 38 institutional desks. No promotion.
The BOJ decided to raise its policy rate to 1.25% today, but the Japanese yen is weaker for it. USD/JPY has now climbed back above the 157 level, in search of a stronger break to the upside following the decision. The rate hike today was already widely expected, leaving markets f
| 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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How we cover this story
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 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.
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.
25 investment banks see USD/JPY at 154.81 by Dec 2026
View the live USD/JPY forecast