Data on the manufacturing sector from ISM USA

• The index of business activity in the manufacturing sector (PMI) in February rose to 60.8, exceeding the January figure at 59.1.
• The index of employment in the manufacturing sector from the ISM rose to 59.7, which exceeds the previous value of 54.2.

Against the background of this statistics, the US dollar continues to trade near local maximums against most of the major market currencies. Despite the strong position of the US currency, the USD/JPY pair keeps a downtrend in connection with the decline of stock exchanges, which keeps demand for the assets of haven.

Technical analysis: The pair USD/JPY enters the triangle, the breakout of which indicates the further movement of the instrument. In case the price of the instrument is fixed above the 107.25 mark, one should expect its further growth to the levels of 107.90, 108.30. In case of price reduction and consolidation below the level of 106.45, one should expect its further decrease to 106.00, 105.55.

Fig. USD/JPY. The current price is $ 106.93.

Alexander Sivtsov