Institute for Supply Management released the US Non-Manufacturing PMI data, which came out worse-than-expected of 53.7 compared with the forecast of 55.5.
Anthony Nieves, Chair of the Institute for Supply Management (ISM) Non-Manufacturing Business Survey Committee commented: "The NMI registered 53.7 percent, which is 1.4 percentage points lower than the June reading of 55.1 percent. This represents continued growth in the non-manufacturing sector, at a slower rate. This is the index's lowest reading since August 2016, when it registered 51.8 percent. Respondents indicated ongoing concerns related to tariffs and employment resources. Comments remained mixed about business conditions and the overall economy."
Economica calendar
USD/JPY short-term daily review
On Monday, the USD/JPY currency pair reversed north form the upper boundary of the long-term descending channel at 105.68. During today's morning, the pair was resting the resistance formed by the monthly S2 and the 55-hour SMA at 106.54.Hourly Chart
On Tuesday, 73% of total open USD/JPY position volume on the Swiss Foreign Exchange was in long positions.
Meanwhile, trader set up pending orders were bullish, as in the 100-pip range 61% of pending orders were set to buy and 39% were to sell.