EURJPY London briefing — 2026-05-12

BIAS BULLISH — D1 structure dominates; H1 bullish EMA confirms despite neutral RSI and H4 divergence. KEY LEVELS R: 185.5, 187.556 | S: 185.0, 182.086 NEWS 🟡 ZEW Economic Sentiment (EUR) — 09:00 UTC 🟡 ECB Elderson Speech (EUR) — 10:40 UTC 🔴 Bank Lending YoY (JPY) — 23:50 UTC SESSION OUTLOOK ZEW and ECB commentary may drive EUR volatility early. Watch 185.5 resistance for conviction; support holds at 185.0. PRO UNLOCKS Entry 185.32 | SL 184.88 | TP1 185.8 | TP2 187.2 | Liquidity sweep 182.5 | FVG 184

Key Levels

R: 185.500 · 187.556

S: 185.000 · 182.086