AUDJPY London briefing — 2026-10-02

BIAS BEARISH. D1 structure, H4 EMA, and H1 EMA all aligned downward; H4 fair value gaps reinforce lower direction despite H1 bullish gaps. KEY LEVELS R: 109.5, 112.62 | S: 109.0, 108.74 NEWS CFTC AUD NC Net Positions – Fri 02 Oct 19:30 UTC 🟡 CFTC JPY NC Net Positions – Fri 02 Oct 19:30 UTC 🟡 SESSION OUTLOOK London opens into supply. Watch 109.5 resistance for rejection; breaks below 109 open downside acceleration toward 108.74.

Key Levels

R: 109.500 · 112.618

S: 109.000 · 108.740