USDJPY London briefing — 2026-11-06

BIAS BULLISH. Daily structure and multi-timeframe EMA confluence (D1 + H4 + H1) drive upside bias despite neutral RSI and bearish intraday fair value gaps. KEY LEVELS R: 158, 158.96242 | S: 157.5, 156.06874 NEWS 🔴 Average Hourly Earnings (MoM) – Fri 13:30 UTC 🔴 Average Hourly Earnings (YoY) – Fri 13:30 UTC 🟡 Fed's Williams speech – Fri 09:30 UTC SESSION OUTLOOK London session tests resistance into afternoon US data. Earnings prints drive USD volatility; watch holds above 157.5 for continuation.

Key Levels

R: 158.000 · 158.962

S: 157.500 · 156.069