Thursday, October 15, 2026

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FxWirePro: USD/JPY attempts tepid recovery from ISM led slump, focus on crucial NFP data

US ISM manufacturing activity index fell to 49.9 in August from 52.6 in July, in stark contrast to the recent fed speak ahead of the FOMC this month. USD/JPY witnessed over 80-pip slump after the poor ISM show from highs…

By FxWirePro Team
1 min read
FxWirePro: USD/JPY attempts tepid recovery from ISM led slump, focus on crucial NFP data
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  • US ISM manufacturing activity index fell to 49.9 in August from 52.6 in July, in stark contrast to the recent fed speak ahead of the FOMC this month.
     
  • USD/JPY witnessed over 80-pip slump after the poor ISM show from highs near the 104 handle.
     
  • The pair however managed to close above 55-EMA at 103.23, which is strong support on the downside.
     
  • The Japanese Yen coming under pressure in the Asian session as the JGB sell-off and the resulting rise in the bond yield weighed.
     
  • USD/JPY is attempting a minor recovery from early Asian session lows of 103.13, currently trading around 103.36.
     
  • All eyes now on the crucial non-farm payrolls data ahead of the FOMC meeting later in the month.
     
  • Major trend is definitely weaker.  But a positive surprise from NFP today could take the pair higher.
     
  • Major resistance levels - 104.45 (61.8% Fib & trendline), 105, 105.80 (110-EMA).
     
  • Major support levels - 103, 102.97 (5-DMA), 102.58 (38.2% Fib).
     
  • NFP will be the major driver for further price action. Go long on upbeat data, target 104.45/ 105/ 105.80.
     
  • On the flipside, short USD/JPY on NFP data miss, target 102.58/ 102/ 101.41
     

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By FxWirePro Team