USD/JPY remained range-bound around ¥158 in morning trading, with the range seen at approximately ¥157.40–158.60. The previous day's close was around ¥158.09.
USD/JPY ended yesterday's trading almost flat at around ¥158.09. Although it rose to around ¥158.50 at one point during the day, it subsequently fell back to around ¥157.85, leaving the pair without a clear direction as the market remained range-bound. The FOMC minutes suggested the possibility of another rate hike before year-end, but the prospect has already been priced in and has not led to significant price moves. The 200-day moving average and the lower boundary of the Ichimoku Cloud on the daily chart are expected to provide an upside reference in the ¥158.50–60 range, while the ¥157.40 range, where the conversion line lies, is seen as a downside reference.
The morning FX outlook published this morning was prepared at 7:30 a.m. on 8 October 2026 and gives a USD/JPY forecast range of ¥157.400–158.600. In light of the previous day's factors and recent supply-and-demand trends, it indicates that trading is likely to remain range-bound around ¥158.
The report has been published as a Gaitame.com report, with an early-morning FX outlook and chart links also provided online. The full report is presented as the view of the Gaitame.com Research Institute and as market commentary for individual investors.
The focus going forward will be whether the relationship between European political and fiscal developments and USD/JPY, as well as changes in market drivers, will allow the market to break out of its current range.