USDJPY London briefing — 2026-05-08

BIAS BEARISH — D1 structure dominates despite H1 neutrality; H4 confirmation supports downside pressure. KEY LEVELS R: 157, 160.72 | S: 156.5, 155.08 NEWS 🔴 Average Hourly Earnings MoM/YoY (USD) — 12:30 UTC 🟡 Fed's Cook speech — 09:45 UTC SESSION OUTLOOK Earnings data at London close drives volatility. Watch 157 resistance rejection; break below 156.5 targets support cascade into NY overlap. PRO UNLOCKS Entry 156.2, SL 157.3, TP1 155.5, TP2 154.8, FVG 156.7–157.1, liquidity sweep 157.4 — unlock with Pro

Key Levels

R: 157.000 · 160.716

S: 156.500 · 155.080