USDJPY London briefing — 2026-05-04

BIAS BEARISH. H4/H1 EMAs aligned downward; RSI neutral doesn't override D1 structure; price respects bearish momentum. KEY LEVELS R: 157.0, 160.72 | S: 156.5, 155.60 NEWS 🟡 Factory Orders (USD) Mon 14:00 UTC 🟡 3M/6M Bill Auctions (USD) Mon 15:30 UTC SESSION OUTLOOK Factory Orders drives mid-London volatility. Watch 157 resistance; breaks below 156.5 confirm continuation lower. PRO UNLOCKS Exact entries, stops, targets, FVG zones, liquidity sweeps—unlock with Pro

Key Levels

R: 157.000 · 160.716

S: 156.500 · 155.600