USDJPY London briefing — 2026-09-25

BIAS BULLISH. D1 structure, H4/H1 EMA alignment, and H4 fair value gaps drive upside conviction despite bearish H1 FVGs. KEY LEVELS R: 158.5, 160.40466 | S: 158, 152.90794 NEWS 🟡 Fed Williams speech (09:15 UTC) 🟡 Durable Goods Orders (12:30 UTC) SESSION OUTLOOK Watch 158.5 resistance during early London. Durable Goods data at 12:30 UTC may trigger volatility; track Fed commentary for USD strength confirmation.

Key Levels

R: 158.500 · 160.405

S: 158.000 · 152.908