Today’s Option Situation – January 21, 2026
Spot
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EUR/USD: 1.1723
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USD/JPY: 158.13
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GBP/USD: 1.3437
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USD/CHF: 0.7906
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USD/CAD: 1.3830
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AUD/USD: 0.6749
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NZD/USD: 0.5846
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EUR/GBP: 0.8721
■ EUR/USD (1.1723)
Wednesday 21/01
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1.1550 (EUR 0.726bn)
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1.1600 (EUR 0.560bn)
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1.1675 (EUR 0.532bn)
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1.1690 (EUR 0.896bn)
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1.1695 (EUR 0.817bn)
→ The main gravity center is the 1.1690–1.1695 zone
(total roughly EUR 1.7bn).
With spot now at 1.1723, slightly above this zone,
there is a very strong pull back toward 1.1700 before the NY cut.
■ USD/JPY (158.13)
Wednesday 21/01
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157.00 (USD 1.2bn)
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158.00 (USD 1.3bn)
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158.50 (USD 1.5bn)
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159.50 (USD 0.561bn)
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160.00 (USD 0.518bn)
→ The absolute gravity center is 158.50 (USD 1.5bn).
With spot at 158.13,
the strongest magnetic force is clearly toward 158.50.
Below that, 158.00 (USD 1.3bn) also acts as support, making
158.0–158.5 a perfect “pinning range.”
■ USD/CHF (0.7906)
-
0.7925 (USD 0.957bn)
→ Located just above the current spot.
0.7925 is a clear magnet, creating strong upside attraction.
■ EUR/USD (Thursday 22/01)
-
1.1600 (EUR 3.3bn)
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1.1700 (EUR 2.5bn)
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1.1800 (EUR 1.2bn)
→ Tomorrow, 1.1600 and 1.1700 form the two dominant gravity levels.
If today closes near 1.17, the market is likely to remain
pinned around 1.17 again tomorrow.
■ USD/JPY (Thursday 22/01)
-
156.30 (USD 1.7bn)
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157.50 (USD 0.628bn)
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159.00 (USD 1.2bn)
-
160.00 (USD 1.0bn)
→ The range widens sharply, creating a structure where
157–159 becomes a neutral zone.
A close today near 158.5 is the most natural outcome.
■ AUD/USD
Thursday 22/01
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0.6600 (AUD 0.639bn)
With spot now at 0.6749,
the center of gravity is lower, meaning upside is likely to feel heavy
and bias slightly downward.
■ NZD/USD
Thursday 22/01
-
0.5740 (NZD 0.729bn)
This is far below current price,
so the impact today is limited and trend-driven.
🔎 Overall Picture for Today
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EUR/USD → Strong pull toward 1.1700
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USD/JPY → 158.50 is the strongest magnet
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USD/CHF → Attraction toward 0.7925
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AUD/USD → Upside heavy, mild downside bias
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Overall structure → “Convergence before the NY cut”
This is a textbook example of:
“NY cut pinning market.”
Price action is being tightly controlled by option gravity,
with markets naturally converging toward key strike levels
before the New York option cut.
