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When is the US ISM Manufacturing PMI and how could it affect USD/JPY?

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US ISM Manufacturing PMI overview

The Institute of Supply Management (ISM) will release its latest Manufacturing business survey result at 1400 GMT this Monday. Consensus estimate point to a slightly lower reading of 58.1 for June as compared to 58.7 previous but will still point to continued expansion in the manufacturing sector for the 110th consecutive month. 

Deviation impact on USD/JPY

Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction in case of a relative deviation of +1.53 or -1.71 is likely to be in the range of 25-35 pips during the first 15-minutes and could stretch to around 55-pips in the subsequent 4-hours. 

How could affect USD/JPY?

Yohay Elam, FXStreet's own Analyst explains: "The round level of ¥110 is eyed by many market participants. Further above, ¥110.50 served as resistance back in February. The ¥111.50 level held the pair down back in late 2017."

"¥109.00 supported the pair in late April. Further below, ¥107.90 capped the pair in late February and also in early April. Lower, ¥107.10 was resistance in early April," he adds further.

About the UK manufacturing PMI

The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in the US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).

FXStreet.com

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