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2 Jun 2014
USD/JPY jumps to fresh highs after ISM 'correction'
FXStreet (San Francisco) - After declining from 102.25 to test the 102.00 area amid the earlier ISM release that showed a contraction in the manufacturing index, the USD/JPY reacted to the upside following the ISM 'correction' to 56.0, its highest number in 2014.
The USD/JPY is now testing the highest level since May 13 at 102.35, up 0.55% on the day. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
USD/JPY levels
If the pair consolidates gains above 102.00, next resistance in the 102.35/45 area. On the other hand, supports are seen at 101.75 (Jun 2 low), 101.42 (May 29 low) and 101.35 (May 22 low).
The USD/JPY is now testing the highest level since May 13 at 102.35, up 0.55% on the day. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
USD/JPY levels
If the pair consolidates gains above 102.00, next resistance in the 102.35/45 area. On the other hand, supports are seen at 101.75 (Jun 2 low), 101.42 (May 29 low) and 101.35 (May 22 low).