USDJPY hit 110.56 in late September, moving away from a 7-week high of 109.15 after the Federal Reserve said it would reduce its monthly bond purchases "soon" and signaled higher interest rates may follow more quickly than expected. Also, the Bank of Japan held its key short-term interest rate at -0.1% while maintaining the target for the 10-year Japanese government bond yield at around 0%. In recent data, Japan's consumer prices fell for the 11th straight month in August and flash PMIs showed factory growth was at an 8-month low, while the contraction in services eased.
Historically, the Japanese Yen reached an all time high of 358.44 in January of 1971. Japanese Yen - data, forecasts, historical chart - was last updated on September of 2021.
The Japanese Yen is expected to trade at 110.40 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 111.70 in 12 months time.