This Week's Market Strategy - February 10, 2026 (Tue)
USD/JPY opened higher on Monday as the ruling party's overwhelming victory in the House of Representatives elections suggested the Takaichi trade might continue, but momentum fizzled.
Subsequently, US media reported that 'Chinese regulators are advising financial institutions to restrain their holdings of US Treasury bonds,' triggering a shift toward dollar selling.
This week includes the US employment statistics that were not released last week.
If USD/JPY fails to exceed 157 and breaks yesterday's low, I expect it to move into the 154 yen range.
Even if it exceeds 157, when it approaches 160 yen, intervention concerns emerge and selling pressure is likely to resume, so I wonder if the market is topping out.
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