5 Nov 2013
USD/JPY rises after ISM services data
FXstreet.com (Córdoba) - The USD/JPY spiked to fresh session highs as the greenback strengthened after data showed the ISM non-manufacturing PMI rose more than expected in October.
The ISM services PMI rose to 55.4 in October against the 54.0 expected and from 54.4 in September signaling the sector is expanding at a faster pace. The USD/JPY jumped after the data and reached a high of 98.57 before stalling shy of 98.67 which is today's peak. At time of writing, USD/JPY is trading at the 98.50 zone, still 0.1% below its opening price.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 98.67 (daily high) and 98.84 (Nov 1 high) ahead of 99.00 (psychological level). On the other hand, supports are seen at 98.16 (daily low) and 98.00 (psychological level/200-hour SMA).
The ISM services PMI rose to 55.4 in October against the 54.0 expected and from 54.4 in September signaling the sector is expanding at a faster pace. The USD/JPY jumped after the data and reached a high of 98.57 before stalling shy of 98.67 which is today's peak. At time of writing, USD/JPY is trading at the 98.50 zone, still 0.1% below its opening price.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 98.67 (daily high) and 98.84 (Nov 1 high) ahead of 99.00 (psychological level). On the other hand, supports are seen at 98.16 (daily low) and 98.00 (psychological level/200-hour SMA).