USD/JPY recovery stalls at 155.80 resistance after weak US data
USD/JPY struggled to maintain recovery momentum, capping gains at 155.80 after disappointing US economic indicators undermined dollar strength. The pair retreated 0.3% from session highs to trade at 155.45 as weak manufacturing and service sector data raised concerns about US economic resilience. The ISM Services PMI dropped to 51.4 from 53.8, while ADP employment data showed only 152K jobs added versus 175K expected. Technical analysis reveals critical resistance at 155.80-156.00, which must be broken for any sustainable recovery. Support levels are identified at 155.20 (50-day MA) and 154.80 (recent low). The Bank of Japan's dovish stance continues to limit yen strength, but further US data disappointments could pressure USD/JPY toward the 154.50 support zone. Traders await Friday's NFP report for clearer directional cues.
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