USDJPY London briefing — 2026-05-06

BIAS BULLISH. D1 structure overrides mixed H4/H1 bearish signals; RSI 40.81 offers upside room. KEY LEVELS R: 156.5, 160.72 | S: 156.0, 155.08 NEWS 🔴 ADP Employment Change 12:15 UTC 🟡 Fed's Musalem speech 13:30 UTC 🔴 MBA Mortgage Applications 11:00 UTC SESSION OUTLOOK ADP print drives volatility; watch rejection at 156.5 resistance. Musalem speech may accelerate moves toward daily targets. PRO UNLOCKS Entry 156.18 | SL 155.65 | TP1 156.85 | TP2 157.40 | FVG 155.80–156.10 | Liquidity sweep 160.50

Key Levels

R: 156.500 · 160.716

S: 156.000 · 155.080