USDJPY London briefing — 2026-10-20

BIAS BULLISH. Daily structure, H4 EMA, and H1 EMA combined with bullish H4 fair value gaps drive upside despite bearish H1 gaps and neutral RSI. KEY LEVELS R: 159.03, 158.50 | S: 158.00, 156.38 NEWS 🟡 ADP Employment Change 4-week avg (Tue 12:15 UTC) 🟡 Building Permits MoM (Tue 12:30 UTC) SESSION OUTLOOK Watch ADP data for USD strength confirmation. Price tests 158.50 resistance; H4 bullish gap support holds on dips toward 158.00.

Key Levels

R: 158.500 · 159.029

S: 158.000 · 156.383