USDJPY London briefing — 2026-09-28

BIAS BULLISH. Daily structure and combined EMA trend (H4+H1) drive conviction despite neutral RSI and bearish intraday fair value gaps. KEY LEVELS R: 158.00, 160.40 | S: 157.50, 152.91 NEWS 🟡 Dallas Fed Manufacturing (14:30 UTC) 🟡 3M/6M Bill Auctions (15:30 UTC) SESSION OUTLOOK London opens near 157.65 with resistance at 158. Watch for USD strength on manufacturing data; auctions secondary but may support dollar into NY open.

Key Levels

R: 158.000 · 160.405

S: 157.500 · 152.908