USDJPY London briefing — 2026-08-03

BIAS BEARISH — D1 structure bearish, H4/H1 EMAs aligned downside, RSI oversold at 28.34 signals exhaustion but confirms downtrend momentum. KEY LEVELS R: 157.00, 164.09 | S: 156.50, 155.25 NEWS 🟡 S&P Global Manufacturing PMI (USD) 13:45 UTC 🟡 Construction Spending MoM (USD) 14:00 UTC 🟡 ISM Manufacturing Employment (USD) 14:00 UTC SESSION OUTLOOK London open faces three USD data prints mid-session. Weak data may accelerate yen strength; watch 156.50 hold as near-term floor before deeper probe toward 155.25.

Key Levels

R: 157.000 · 164.088

S: 156.500 · 155.251