USDJPY London briefing — 2026-10-12

BIAS BULLISH. D1 + H4 + H1 trend alignment and H4 fair value gaps drive conviction; RSI neutral supports continuation without overextension. KEY LEVELS R: 158.5, 159.03 | S: 158.0, 154.22 NEWS 🟡 Fed Hammack speech (USD) Mon 16:50 UTC | 🟡 Bank Lending YoY (JPY) Mon 23:50 UTC | 🟡 PPI MoM (JPY) Mon 23:50 UTC SESSION OUTLOOK Watch 158.5 resistance rejection or break through London hours. H1 bearish FVGs may create pullback zones; H4 structure supports buyers on dips.

Key Levels

R: 158.500 · 159.029

S: 158.000 · 154.221