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USD/JPY hits fresh highs above 105.00 after ISM

FXStreet (Córdoba) - The USD/JPY pushed to fresh highs following the release of the ISM manufacturing PMI, which showed the manufacturing sector grew at its fastest pace since March 2011.

The Institute for Supply Management reported its manufacturing index climbed to 59 last month from 57.1 in July and beating expectations of 56.8.

The dollar received another boost following the release, rising to its highest level in near 8 months at 105.16 against the yen. At time of writing, the USD/JPY is trading at the 105.10 area, 0.76% above its opening price, posting its biggest daily gain in 2 weeks.

USD/JPY levels to watch

Having left the 105.00 hurdle behind, Jan 1 peak at 105.44 stands as next target followed by the 106.00 mark. On the other hand, supports are now seen at 104.90 (former resistance area), 104.29 (Sep 2 low) and 104.07 (10-day SMA).

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