USDJPY London briefing — 2026-10-16

BIAS BEARISH. Combined D1 + H4 + H1 trend votes, H4 fair-value gaps, and H1 bearish EMA alignment drive directional pressure lower. KEY LEVELS R: 158.00, 159.03 | S: 157.50, 156.38 NEWS 🟡 Export Price Index (MoM/YoY) & Import Price Index (MoM) – Fri 12:30 UTC – LOW impact SESSION OUTLOOK London opens into weak US inflation data. Watch 157.50 support for hold/break; resistance at 158 caps upside. H1 bearish EMA remains operative.

Key Levels

R: 158.000 · 159.029

S: 157.500 · 156.383