USDJPY London briefing — 2026-05-20

BIAS BULLISH. D1 structure + aligned H4/H1 EMAs confirm upside; RSI neutral supports continuation without overbought risk. KEY LEVELS R: 159.24221, 159 | S: 158.5, 155.08038 NEWS MBA Mortgage Applications 11:00 UTC 🟡 | EIA Crude Oil Stocks 14:30 UTC 🟡 | 20-Year Bond Auction 17:00 UTC 🟡 SESSION OUTLOOK London open tests 159 resistance. Bond auction (17:00) drives USD volatility; watch for breakout or rejection at R1. PRO UNLOCKS Entry 159.15 | SL 158.75 | TP1 159.50 | TP2 159.88 | FVG 158.7-158.9 | Liquidity sweep S2 risk | Fib

Key Levels

R: 159.000 · 159.242

S: 158.500 · 155.080