USDJPY London briefing — 2026-08-21

BIAS BEARISH — H4 EMA bearish despite neutral RSI and D1; lower timeframe divergence suggests downside pressure remains intact. KEY LEVELS R: 159.78, 159 | S: 158.5, 155.25 NEWS 🔴 S&P Global Manufacturing PMI (USD) — 21 Aug 13:45 UTC 🔴 S&P Global Services PMI (USD) — 21 Aug 13:45 UTC 🟡 S&P Global Composite PMI (USD) — 21 Aug 13:45 UTC SESSION OUTLOOK PMI data could trigger volatility; watch 159 resistance hold. Bearish bias favors 158.5 test if manufacturing disappoints.

Key Levels

R: 159.000 · 159.782

S: 158.500 · 155.251