Friday, October 16, 2026

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FxWirePro: 100-DMA caps USD/JPY upside, further gains only on break above

Overnight data showed US ISM non-manufacturing index rebounds to the best level in nearly a year. Bulls appear to face exhaustion in Asian session today, pair trades a narrow range. Stiff resistance seen at 103.67 (100-D…

By FxWirePro Team
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FxWirePro: 100-DMA caps USD/JPY upside, further gains only on break above
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  • Overnight data showed US ISM non-manufacturing index rebounds to the best level in nearly a year.
     
  • Bulls appear to face exhaustion in Asian session today, pair trades a narrow range.
     
  • Stiff resistance seen at 103.67 (100-DMA), only break above could see further upside.
     
  • NFP is the main risk event for the major, will determine if the Fed remains on track to raise rates this year.
     
  • Major support levels - 103, 102.67 (Oct 5 lows), 102, 101.73 (20-DMA)
     
  • Major resistance levels - 103.67 (100-DMA), 104, 104.32 (Spet 2 high)
     
  • Breakout above 100-DMA could see test of 104.32, while on the flipside, rejection there could see drag to 101.75 levels.
     
  • We would wait for confirmation on technicals to initiate trade.
     

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By FxWirePro Team