USDJPY London briefing — 2026-05-05

BIAS BEARISH. H4 EMA bearish overrides neutral D1; RSI 46.88 lacks bullish conviction near 157.23. KEY LEVELS R: 157.5, 160.72 | S: 157.00, 155.60 NEWS 🟡 Goods/Services Trade Balance (USD) 12:30 UTC 🟡 Redbook Index YoY (USD) 12:55 UTC SESSION OUTLOOK Soft US data may weaken dollar. Watch 157.00 support hold; break below opens 155.60 target. PRO UNLOCKS Entry 156.80 | SL 157.65 | TP1 156.40 | TP2 155.60 | FVG 156.20–156.50 | Liquidity sweep H4 | Fibonacci 0.618 157.92→155.28

Key Levels

R: 157.500 · 160.716

S: 157.000 · 155.600