USDJPY London briefing — 2026-10-07

BIAS BULLISH. D1 + H4 + H1 trend alignment, H4 and H1 fair-value gaps, and H4 bullish EMA structure override the liquidity sweep of highs. KEY LEVELS R: 158.5, 159.03 | S: 158.00, 153.22 NEWS 🟡 MBA Mortgage Applications (Wed 11:00 UTC) | 🟡 EIA Crude Oil Stocks (Wed 14:30 UTC) | 🟡 EIA Distillate Stocks (Wed 14:30 UTC) SESSION OUTLOOK London opens with price at 158.35 in bullish structure. Watch for H1 FVG fills toward resistance; EIA data at 14:30 UTC may trigger volatile repricing.

Key Levels

R: 158.500 · 159.029

S: 158.000 · 153.220