How could today's US ISM Manufacturing PMI impact USD/JPY?

ISM Manufacturing PMI is scheduled today at 15:00 UTC, with a previous reading of 54.5 and an estimate of 54.6, and it is the high-impact item on today's calendar. No past reaction history is available here, so the release is a scheduled event rather than a mapped move. Nearest resistance is the previous day high at 157.875, 7.5 pips away, and nearest support is the daily pivot at 157.451, 34.9 pips away.

What are the major technical resistance levels for USD/JPY today?

Nearest resistance is the previous day high at 157.875. Farther up are R1 at 157.96, the round level at 158, the five-day high at 158.324, R2 at 158.384, R3 at 158.893 and the twenty-day high at 158.927. The day high at 157.971 is above R1, while last at 157.8 is still below R1.

Is USD/JPY showing bullish momentum in today's session?

The H1 trend is up, but the daily trend is mixed and the H4 trend is mixed, so the timeframes do not agree. Daily RSI is 48.2. Last is up 0.17% on the day at 157.8 versus the previous close, which is a higher price on the day rather than an aligned bullish trend.

USD/JPY Forecast Today: Neutral Near 157.875

Daily outlook Neutral bias Nov 2, 2026, 07:14 UTC

Daniel TanAsia-Pacific Market Analyst · ForexR analyst

USD/JPY is neutral in the London session: last at 157.8, up 0.17% on the day, with mixed daily and H4 trends and an up H1. Nearest resistance is the previous day high at 157.875.

Unrecognizable man writing plan in journal and gadgets lying around on desk

Price157.800

Day change+0.17%

Day range157.400 - 157.971

ATR (14)0.914

Resistance	Level	Support	Level
R3	158.893	S1	157.027
R2	158.384	S2	156.518
R1	157.960	S3	156.094
Previous day high	157.875	Previous day low	156.942
20-day high	158.927	20-day low	156.056
Daily pivot 157.451. Data as of 2026-11-02 07:07 UTC; price from a live feed, levels computed from the previous completed daily bar.

USD/JPY 1-hour chart with the daily pivot at 157.451, R1 157.960, R2 158.384, S1 157.027, S2 156.518 and the bullish and bearish scenario paths — USD/JPY, 1-hour candles with the daily pivot levels, the range between nearest support and resistance, and both scenario paths. Data as of 2026-11-02 07:07 UTC.

USD/JPY in the London session

USD/JPY last prints at 157.8 at 07:07 UTC in the London session, up 0.264 from the previous close at 157.536, a gain of 0.17% on the day. The day open was 157.407, the day high is 157.971 and the day low is 157.4, a day range of 57.1 pips. That range is 62% of the 14-day ATR at 91.4 pips, or 0.914, the comparison set out in the ATR and volatility guide. Bid is 157.8 and ask is 157.846, a spread of 4.6 pips. On the live USD/JPY rate, last sits between the daily pivot at 157.451 and R1 at 157.96. New York joins at 12:00 UTC, and the day high and day low belong to the whole day since the previous close, not to the London session alone.

Trend and momentum do not agree

The daily trend state is mixed. The 20-day EMA is 157.702, the 50-day EMA is 157.901 and the 200-day EMA is 157.931. With last at 157.8, price is above the 20-day EMA and below both the 50-day EMA and the 200-day EMA. The H4 trend is mixed. Its 20-period EMA is 157.654 and its 50-period EMA is 157.67, with last above both and the state still mixed. The H1 trend is up. Its 20-period EMA is 157.652 and its 50-period EMA is 157.632. Daily RSI is 48.2. Five-day performance is up 0.61%. Twenty-day performance is down 0.03%. Because daily and H4 are mixed while H1 is up, the timeframes do not agree, and the bias is neutral.

Levels, pivots and the two ranges

Nearest resistance is the previous day high at 157.875, 7.5 pips from last. Nearest support is the daily pivot at 157.451, 34.9 pips from last. The day high at 157.971 stands above R1 at 157.96. Last at 157.8 does not. The round level below is 157.5 and the round level above is 158.

Daily pivots put P at 157.451, R1 at 157.96, R2 at 158.384 and R3 at 158.893. Support pivots put S1 at 157.027, S2 at 156.518 and S3 at 156.094. The October 30 high was 157.875 and the October 30 low was 156.942, a range of 93.3 pips.

The five-day high is 158.324 and the five-day low is 156.63. The twenty-day high is 158.927 and the twenty-day low is 156.056.

Bullish path and bearish path

A break above R1 at 157.96 would open the way to R2 at 158.384. The span from that trigger to that target is 42.4 pips. A move back below the daily pivot at 157.451 would invalidate the bullish path. The pivot is the invalidation, not the trigger. Last remains under R1 at 157.96, while the day high at 157.971 is above R1.

The bearish path uses a different shape. It starts only if price breaks below S1 at 157.027, which would open the way to S2 at 156.518. From S1 to S2 is 50.9 pips. A move back above the daily pivot at 157.451 would invalidate that bearish path. Last already trades above the pivot at 157.451, and S1 at 157.027 remains the trigger underneath.

Calendar, news tone, positioning and yields

New York joins at 12:00 UTC, and today's releases come after that. At 15:00 UTC, ISM Manufacturing PMI is high impact, previous 54.5, estimate 54.6. Three medium-impact indexes share that 15:00 UTC slot. ISM Manufacturing Prices Paid shows previous 77.9 and estimate 77. The ISM Manufacturing New Orders Index shows previous 55.3 and no estimate. The ISM Manufacturing Employment Index shows previous 52.7 and no estimate. At 16:15 UTC, Fed's Goolsbee speech is medium impact, with no previous value and no estimate. At 19:00 UTC, the Loan Officer Survey is medium impact, also with no previous value and no estimate. Tomorrow at 05:00 UTC, US Midterm Elections are a high-impact item on the economic calendar, not part of today's slate, with no previous value and no estimate.

Headlines from FX Street and ExchangeRates center on the yen, while Forexcom's weekly outlook weighs oil against artificial-intelligence worries. News volume stands at 12% of the 90-day average, and the opportunity read is bullish at 53, not a forecast. An alert shows that opportunity read moving from -29, bearish, to 49, bullish, within 24 hours.

As of the week to October 27, large speculators were net short USD/JPY, and speculators added to net short USD/JPY, a positioning snapshot rather than a forecast.

At the October 30 close, the 3-month yield was 4.16%, the 2-year yield was 4.56%, down 5 basis points versus October 29, the 10-year yield was 4.94%, down 4 basis points, and the 2s10s curve was 38 basis points. Those figures are context from October 30, not a demonstrated cause of the 0.17% change on the day.

Bottom line

USD/JPY at 157.8 is neutral, with mixed daily and H4 trends, an up H1 and RSI at 48.2, between the previous day high at 157.875 and the daily pivot at 157.451. A break above R1 at 157.96 would open the way to R2 at 158.384, and that view fails on a move back below the daily pivot at 157.451. S2 at 156.518 comes into view only after a break below S1 at 157.027, and that view fails on a move back above the same pivot.