This Week’s Market – Wednesday, October 28, 2026
This Week’s Market – Wednesday, October 28, 2026
Ahead of the Federal Open Market Committee (FOMC) meeting and the Bank of Japan Monetary Policy Meeting, USD/JPY has seen yen selling and dollar buying driven by position adjustments. Better-than-expected US Consumer Confidence for October and September New Home Sales have also supported the market, and the pair is gaining momentum above 158.
Once it clears 158, 159 comes into view. However, as it approaches 160, concerns about possible intervention are likely to weigh on the upside once again.
The market expects the FOMC to hold rates steady in the early hours of tomorrow morning (JST). If the meeting suggests a rate hike in December, USD/JPY could push above 159.
Meanwhile, if the pair falls below the 157.70 support line, the trend is likely to turn downward again, so we will be watching this support level closely.
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