Currency pair (“gopher”) · cross of two ECB reference rates

What is the USD/JPY reference rate and how has it moved?

The USD/JPY reference rate was 158.020 on 16 Oct 2026: one USD was worth 158.020 JPY. That is 4.5% above a year earlier and 56% of the way up its 52-week range. Annualised volatility over the year was 7.9%.

USD/JPY · 16 Oct 2026: 158.020Previous fixing 157.976 (15 Oct 2026) · ▲ +0.03%
12-month change: ▲ +4.5%from 151.283 on 16 Oct 2025
52-week range: 150.415–163.913low 17 Oct 2025 · high 28 Jul 2026
Volatility, 1 yr: 7.9%annualised; full-year average since 2016: 9.1%

The past twelve months

Daily ECB reference fixings, 16 Oct 2025 – 16 Oct 2026 (255 fixings). Yellow dot: latest.

What the record shows

Over the past year USD/JPY has moved about as much as usual: 7.9% annualised volatility against a 9.1% average for full calendar years since 2016. Its calmest full year was 2021 (5.4%) and its busiest 2016 (12.7%).
Since 4 Jan 2016 the rate has ranged from 99.814 (16 Aug 2016) to 163.913 (28 Jul 2026). Today's fixing is higher than 95% of the 2,763 daily fixings in that period.
Five years ago, on 15 Oct 2021, the fixing was 114.334, so the rate is 38.2% above that level. Over one month it is ▲ +1.92% (from 155.049 on 16 Sept 2026).
The largest single-day move of the past year was on 26 Jan 2026: 158.159 → 154.208 (▼ −2.50%).
Read the other way round, 1 JPY was worth 0.00633 USD on 16 Oct 2026 (JPY/USD).

How is the USD/JPY figure on this page produced?

The ECB does not publish USD/JPY; it publishes each currency against the euro. The cross is the ratio of the two: JPY per euro ÷ USD per euro = 177.820 ÷ 1.12530 = 158.020 on 16 Oct 2026. Because both legs are fixed at the same moment, the cross is internally consistent, but it can differ slightly from a market quote at 14:10 CET. See how to calculate a cross rate.

Year by year

USD/JPY yearly close, change, high, low, average and volatility
Year	Close	Change	High	Low	Average	Vol.
2026 to date	158.020	▲ +0.9%	163.913 28 Jul	152.631 28 Jan	158.512	7.0%
2025	156.672	▼ −0.2%	158.409 8 Jan	140.336 22 Apr	149.655	10.1%
2024	156.954	▲ +10.9%	161.907 3 Jul	139.907 16 Sept	151.431	10.7%
2023	141.475	▲ +7.3%	151.790 13 Nov	128.417 3 Feb	140.588	11.0%
2022	131.877	▲ +14.6%	151.686 21 Oct	113.715 14 Jan	131.550	12.5%
2021	115.116	▲ +11.7%	115.308 25 Nov	102.885 5 Jan	109.870	5.4%
2020	103.080	▼ −5.0%	112.011 20 Feb	102.235 9 Mar	106.741	8.7%
2019	108.545	▼ −1.2%	111.977 16 Apr	105.137 12 Aug	108.977	5.5%
2018	109.913	▼ −2.4%	114.163 4 Oct	105.087 23 Mar	110.474	6.0%
2017	112.574	▼ −3.8%	118.199 3 Jan	107.380 8 Sept	112.194	8.6%
2016	117.067	—	121.270 1 Feb	99.814 16 Aug	108.655	12.7%

Change = last fixing of the year against the last fixing of the previous year (2016 has no prior close in this record). Vol. = annualised standard deviation of daily log changes within the year. 2026 runs to 16 Oct 2026.

Since January 2016

ECB reference fixings, thinned to about every fifth fixing for drawing; the tables use every fixing.

Largest one-day moves since 2016

Date	From	To	Move
5 Aug 2024	148.934	142.240	▼ −4.49%
11 Nov 2022	146.142	139.591	▼ −4.48%
24 Jun 2016	105.698	102.322	▼ −3.19%
13 Mar 2020	103.950	107.268	▲ +3.19%
13 Mar 2023	136.690	132.599	▼ −2.99%

Moves are measured between consecutive ECB fixings, so a move after a holiday can span more than one calendar day.

Sources

European Central Bank — euro foreign exchange reference rates (series EXR.D.USD+JPY.EUR.SP00.A, retrieved 16 Oct 2026 via the ECB Data Portal).
Method for crosses, ranges and volatility: methodology.