Today’s Option Situation – January 22, 2026
Spot
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EUR/USD: 1.1687
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USD/JPY: 158.82
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GBP/USD: 1.3424
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USD/CHF: 0.7947
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USD/CAD: 1.3820
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AUD/USD: 0.6807
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NZD/USD: 0.5857
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EUR/GBP: 0.8703
■ EUR/USD (1.1687)
Thursday 22/01
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1.1550 (EUR 1.8bn)
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1.1575 (EUR 0.947bn)
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1.1600 (EUR 3.3bn)
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1.1605 (EUR 1.0bn)
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1.1630 (EUR 0.701bn)
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1.1640 (EUR 0.593bn)
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1.1675 (EUR 0.666bn)
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1.1700 (EUR 2.5bn)
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1.1760 (EUR 0.556bn)
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1.1800 (EUR 1.2bn)
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1.1900 (EUR 0.898bn)
→ The main gravity centers are:
1.1600 (EUR 3.3bn) and 1.1700 (EUR 2.5bn).
With spot at 1.1687, price sits between the two.
Into the NY cut, a light pull toward 1.1700 is the natural tendency.
However, 1.1600 is overwhelmingly heavy, so upside is limited and the structure is clearly convergent rather than trending.
■ USD/JPY (158.82)
Thursday 22/01
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156.30 (USD 1.7bn)
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156.40 (USD 0.953bn)
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157.50 (USD 0.628bn)
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158.00 (USD 0.580bn)
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159.00 (USD 1.2bn)
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160.00 (USD 1.0bn)
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161.00 (USD 1.1bn)
→ The largest strike is 156.30 (USD 1.7bn), but it is far away.
The nearest gravity centers are:
159.00 (USD 1.2bn) and 160.00 (USD 1.0bn).
With spot at 158.82, the strongest attraction is toward 159.00.
The 158.5–159.0 area becomes today’s pinning zone.
■ USD/CHF (0.7947)
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0.7900 (USD 0.54bn)
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0.8005 (USD 0.529bn)
→ Almost equal size above and below.
With spot in the middle, this is a neutral, range-bound structure where volatility tends to be suppressed.
■ AUD/USD (0.6807)
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0.6600 (AUD 0.639bn)
→ The gravity center is far below the current price.
Upside becomes lighter, and the pair is prone to being pushed back lower.
■ NZD/USD (0.5857)
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0.5740 (NZD 0.729bn)
→ Too far away to matter today.
Price action will be trend-driven rather than option-driven.
■ EUR/USD (Friday 23/01)
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1.1550 (EUR 0.767bn)
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1.1575 (EUR 0.652bn)
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1.1600 (EUR 1.7bn)
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1.1650 (EUR 1.2bn)
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1.1700 (EUR 1.3bn)
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1.1825 (EUR 0.779bn)
→ Tomorrow forms a triple-magnet structure:
1.1600 / 1.1650 / 1.1700.
If today closes near 1.17, the market is likely to remain
“locked inside the 1.16–1.17 zone” again tomorrow.
■ USD/JPY (Friday 23/01)
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159.00 (USD 1.1bn)
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160.00 (USD 1.4bn)
→ Tomorrow, 160.00 becomes the strongest magnet.
🔎 Overall Picture for Today
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EUR/USD → Light attraction toward 1.1700, but 1.1600 is a powerful floor
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USD/JPY → 159.00 is today’s main magnet
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USD/CHF → Range-bound and fixed
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AUD/USD → Heavy on the upside
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Overall structure → Completely a
“NY cut magnet market / convergence mode”
This is not a day to build trends.
It is a classic session of:
“Pulled in, pinned, and unable to break.”
A textbook pre–NY cut pinning market.
