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USD/JPY chart - Trading View
USD/JPY is trading weaker on the day, down 0.05% at 108.01 at 03:55 GMT.
The pair is consolidating previous session's slump, bias remains bearish.
Poor U.S. Manufacturing PMI index which printed at its weakest level in 31 months weighs.
Data released overnight shows U.S. ISM purchasing manager’s index dropped to 52.1 in May from April’s 52.8, missing its median expectation of 53.0.
The major has retraced from session lows at 107.85 tracking improvement in the risk sentiment.
However, recovery lacks traction. Volatility rising and momentum with the bears.
Scope for test of 61.8% Fib at 107.61. Violation there will see dip till 106.31 (78.6% Fib).
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
