USD/JPY slips to around 156.4 as half-year-end flows and Fed comments weigh
Half-year-end flows (itsd Japan FY half year end today) are the dominant driver here, and moves of this kind can reverse once the new fiscal half begins, so the yen's gain may prove less durable than the size of the fall suggests. The backdrop of official comments has made trader
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
MUFG | Bullish | 152.00 |
UBS | Bearish | 160.00 |
Scotiabank | Bullish | 140.00 |
All 22 desk targets for USD/JPY
Desk synthesis pending
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Cross-firm research
USD/JPY at 158.13: Consensus Targets 154.0, Dispersion Hits 25.5
USD/JPY trades 2.68% above the 24-firm Dec-26 consensus of 154.0, with a 25.5-figure dispersion reflecting deep disagreement over the BoJ rate path and US 10-year yields.
USD/JPY Consensus Check: Spot at 157.38, Target 154.0 — Week of September 30, 2026
USD/JPY trades 2.20% above the 24-firm Dec-26 consensus of 154.0, with a 25.5-point dispersion that reflects sharply divided BoJ and US rates views.
USD/JPY Consensus Check: Spot at 157.28, Median Target 154.0 — Week of September 29, 2026
USD/JPY trades 2.13% above the 24-firm median Dec-26 target of 154.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.