USDJPY London briefing — 2026-08-05

BIAS BEARISH. Daily structure bearish; H4 EMA confirms downtrend. H1 neutral divergence suggests intraday consolidation before continuation lower. RSI 44.79 supports weakness without oversold conditions. KEY LEVELS R: 158.00 | S: 157.50, 155.25 NEWS 🔴 ADP Employment Change (Wed 12:15 UTC) 🟡 S&P Global Composite PMI (Wed 13:45 UTC) 🔴 MBA Mortgage Applications (Wed 11:00 UTC) SESSION OUTLOOK ADP at London mid-session may trigger USD strength reversal. Watch 158 resistance if risk appetite shifts on employment data.

Key Levels

R: 158.000 · 164.088

S: 157.500 · 155.251