USDJPY Asia briefing — 2026-10-26

BIAS BEARISH. D1 trend, H4 EMA, and H1 EMA converge downward; H4 fair value gaps reinforce lower direction despite H1 bullish FVG conflict. KEY LEVELS R: 157.00, 158.96 | S: 156.51, 156.07 NEWS 🔴 Coincident Index (JPY) 05:00 UTC 🔴 Leading Economic Index (JPY) 05:00 UTC 🔴 Chicago Fed National Activity Index (USD) 12:30 UTC SESSION OUTLOOK Early JPY data risks trigger volatility. Watch 156.51 hold as buyers test; rejection confirms downside continuation toward 156.07.

Key Levels

R: 157.000 · 158.962

S: 156.500 · 156.069