The ISM Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Friday at 14:00 GMT. Indicator Background Analysts are always interested in the views of purchase managers about the economy, as they are considered to be attuned to the latest economic and financial developments, and their expectations could be an indication of future economic trends. Thus, PMI readings are quite important and an unexpected reading from the Manufacturing PMI could affect the movement of USD/JPY. The index has been pointing to expansion in the manufacturing sector, as it continues to produce readings in the mid-50 range. As well, the past four releases have surpassed their estimates. The index came in at 56.2 points in September, but the upcoming release is expected to drop slightly to 55.3 points. Sentiments and levels USD/JPY was unable to sustain much movement in either direction last week, and this could continue. The dollar managed to post modest gains against the yen last week, despite weak employment and manufacturing data out of the US. However, with the Fed deciding to maintain the current levels of QE, we could see the dollar lose ground against the major currencies. So, the overall sentiment is neutral on USD/JPY towards this release. Technical levels, from top to bottom: 101.44, 100, 98.90, 97.80, 96.59 and 95. 5 Scenarios Within expectations: 52.0 to 58.0: In such a case, USD/JPY is likely to rise within range, with a small chance of breaking higher. Above expectations: 58.1 to 62.0: An unexpected higher reading can send the pair above one resistance line. Well above expectations: Above 62.0: A sharp jump by the index could push USD/JPY upwards, and a second resistance line might be broken as a result. Below expectations: 48.0 to 51.9: A weak reading could push USD/JPY downwards and break one level of support. Well below expectations: Below 48.0: A sharp contraction by the index would indicate trouble in the manufacturing sector. This would likely push the pair downwards, possibly breaking a second support level. Follow this event live at: Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next Adjusting to the Fed October 2013 daily outlook FxPro - Forex Broker 9 years The ISM Manufacturing PMI (Purchasing Managers' Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Friday at 14:00 GMT. Indicator Background Analysts are always interested in the views of purchase managers about the economy, as they are considered to be attuned to the latest economic and financial developments, and their expectations could be an… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.