This Week's Market – Wednesday, October 21, 2026
This Week's Market – Wednesday, October 21, 2026
USD/JPY initially came under broad dollar selling after partial reports that the US-Iran war could be coming to an end. Crude oil futures lost momentum sharply and US long-term yields fell. However, the pair was bought back as the market reacted to reports denying those claims.
The market continues to watch the 200-day moving average at 158.60 and the October 14 high of 158.95 as upside targets. There are no US economic indicators today, so the 20-year Treasury auction will be in focus.
Technically, yesterday's low of 157.83 is the downside reference for USD/JPY, and yesterday's high of 158.60 is the upside reference. As long as the 157.50 support line holds, we believe a buy-on-dips strategy remains reasonable.
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