This Week's Market - April 21, 2026 (Tuesday)
The situation remains unstable as the ceasefire deadline for the Iran war approaches on the night of the 22nd Eastern Time (morning of the 23rd Japan Time).
USD/JPY appears to be forming a downtrend on the 4-hour chart or so. It is moving within a descending trendline and its parallel line, so the question is whether it will eventually break above the descending trendline and rise. If it breaks below the lower boundary of the parallel line, the downward momentum will increase, and it will be a question of whether a full-scale downtrend is finally beginning. It looks like short-term long trades will be the direction, while keeping an eye on the resistance around 159.30.
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