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1 Jun 2015
ISM Manufacturing reaction: USD/JPY jumps to highs of the day
FXStreet (Orlando) - The USD/JPY is reacting higher after the better than expected US ISM manufacturing index that reported an increase to 52.8. After jumping 50 pips from 123.85, the US Dollar is testing 124.40 highs against the Japanese Yen.
The US manufacturing data reported an increase to 52.8 in May from 51.5 in April. A better number than previously expected of 52.0. Index rose mostly riven by new orders that rose to its highest since November.
Currently, USD/JPY is trading at 124.37, up 0.17% on the day, having posted a daily high at 124.42 and low at 123.86. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.
USD/JPY Forecast
The FXStreet USDJPY Forecast Poll says that "investors are hardly expecting a move beyond the level" of 125.00, "but price may well be moving faster than market."
US Dollar to Yen levels
If the pair manages to break above 124.40, it will find supports t 124.45 and 124.60. To the downside, supports are at 124.00, 123.90 and 123.75.
The US manufacturing data reported an increase to 52.8 in May from 51.5 in April. A better number than previously expected of 52.0. Index rose mostly riven by new orders that rose to its highest since November.
Currently, USD/JPY is trading at 124.37, up 0.17% on the day, having posted a daily high at 124.42 and low at 123.86. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.
USD/JPY Forecast
The FXStreet USDJPY Forecast Poll says that "investors are hardly expecting a move beyond the level" of 125.00, "but price may well be moving faster than market."
US Dollar to Yen levels
If the pair manages to break above 124.40, it will find supports t 124.45 and 124.60. To the downside, supports are at 124.00, 123.90 and 123.75.