AUDJPY London briefing — 2026-10-16

BIAS BEARISH. D1 + H4 + H1 EMA alignment drives direction despite H1/H4 fair value gaps offering pullback structure. KEY LEVELS R: 110, 112.32 | S: 109.5, 108.66 NEWS CFTC AUD NC Net Positions (Fri 19:30 UTC) 🟡 CFTC JPY NC Net Positions (Fri 19:30 UTC) 🟡 SESSION OUTLOOK Watch 109.5 support hold as London enters. CFTC data may trigger positioning shifts; monitor H1 closes below EMA for continuation.

Key Levels

R: 110.000 · 112.318

S: 109.500 · 108.658