USDJPY New York briefing — 2026-07-31

BIAS BEARISH. D1 structure bearish; H1 EMA bearish; RSI neutral (37.75) avoids overbought—downside bias intact despite H4 EMA neutrality. KEY LEVELS R: 160.5, 164.08 | S: 160, 157.95 NEWS 🟡 Chicago PMI 13:45 UTC 🟡 Michigan Consumer Sentiment 14:00 UTC 🟡 Michigan Consumer Expectations 14:00 UTC SESSION OUTLOOK US data cluster mid-session may trigger volatility around 160.5 resistance. Watch RSI rejection at 40 for continuation lower toward 160 support.

Key Levels

R: 160.500 · 164.088

S: 160.000 · 157.947