USD/JPY Exchange Rate Today — Live Chart and Analysis

USD/JPY traded mostly between 152 and 160 during 2026, averaging around 157 for the year so far. The pair has been supported by the large interest rate gap between the US Federal Reserve and the Bank of Japan. While the Fed kept rates around 3.50–3.75%, the Bank of Japan slowly moved away from its ultra-low interest rate policy, raising rates to 0.75% by the end of 2025 — the highest level since 1995. Japan has also stepped into the market several times to support the yen, reportedly spending more than ¥10 trillion ($63 billion) during Q1 and Q2 2026, although officials haven't confirmed the exact numbers. Higher oil prices in Q2 2026 pushed US Treasury yields higher, which increased demand for the US dollar and kept USD/JPY near multi-decade highs. At the same time, the Bank of Japan has signaled that more rate hikes may come as inflation rises. Japan imports most of its oil, so higher energy prices directly increase inflation pressure. The OECD expects Japanese interest rates could reach 2% by the end of 2027. Key levels traders are watching: - Support: 152–153, where Japan may intervene again - Resistance: 160–162 The carry trade still supports USD/JPY, but the market remains sensitive to any surprise rate hikes from the Bank of Japan, which could trigger a sharp move lower in the pair.