USDJPY London briefing — 2026-10-28

BIAS NEUTRAL. H4 EMA bullish contradicts D1 bearish structure; H4 fair-value gaps bearish conflict H1 bullish gaps. KEY LEVELS R: 158.00, 158.96 | S: 157.50, 156.07 NEWS 🟡 MBA Mortgage Applications (11:00 UTC) 🟡 Goods Trade Balance (12:30 UTC) 🟡 Wholesale Inventories (12:30 UTC) SESSION OUTLOOK London opens with conflicting timeframe signals. Watch 157.50–158.00 range; USD data at 12:30 UTC may spark directional commitment.

Key Levels

R: 158.000 · 158.962

S: 157.500 · 156.069