This week's market – Tuesday, September 29, 2026

USD/JPY drew broad-based dollar buying as WTI crude oil futures rose on uncertainty over the outlook for the situation in Iran, sending the 10-year US Treasury yield — a benchmark for long-term US interest rates — briefly to around 5.2719%, its highest level since June 2007.
The dollar strengthened across the board, and after 24:00 USD/JPY recovered to around 157.58 yen.
It has since been trading in a narrow range.

This week the focus is on Friday's US employment report.
If the figures come in strong, the market is likely to start reacting to the prospect of a rate hike at the next FOMC meeting, which should push USD/JPY back toward yen weakness.
That said, as the pair approaches 160 yen, intervention concerns — including verbal intervention — are likely to resurface, so as a trading strategy I think a buy-the-dip approach in the 156.5–157.0 range looks best.