USD/JPY fails to hold above 103.00

USD/JPY bounced from recent lows and managed to trim intraday losses, although it failed to hold above the 103 mark for long. 

USD/JPY found support at a 1-month low of 102.54 and briefly rose to a high of 10.43 before stabilizing just below the 103.00 level. The pair was last trading at 102.90, down 0.37% on the day.

On Wednesday, the Federal Reserve decided to leave policy unchanged while USD has been mostly driven by uncertainty over the Presidential election. 

On the data front, ISM non-manufacturing index fell to 54.8 in October from 57.1 in September. And below the 56.0 expected, while separated data showed factory orders rose by a seasonally adjusted 0.3% in September, above the 0.2% expected.

USD/JPY technical levels

In terms of technical levels, next supports are seen at 102.54 (Nov 3 low), 102.00 (psychological level) and 101.55 (Oct 4 low). On the other hand, resistances line up at 103.43 (Nov 3 high), 103.94 (20-day SMA) and 104.18 (10-day SMA).