USDJPY London briefing — 2026-07-31

BIAS NEUTRAL — RSI oversold signals reversal potential, but H4 neutrality conflicts with H1 bearish and daily bearish structure. No clear directional edge. KEY LEVELS R: 160.5, 164.09 | S: 160.00, 157.95 NEWS 🟡 Employment Cost Index (12:30 UTC) 🟡 Chicago PMI (13:45 UTC) 🟡 Michigan Consumer Expectations (14:00 UTC) SESSION OUTLOOK Three medium-impact USD releases flood London. Watch 160.5 resistance; breach confirms upside, failure keeps bears in control.

Key Levels

R: 160.500 · 164.088

S: 160.000 · 157.947