Will the Dollar-Yen Pair Test the 158-Yen Level Following U.S. Jobless Claims Data?

Will the Dollar-Yen Pair Test the 158-Yen Level on the Back of U.S. Jobless Claims Data?

06.08.2026 New

In the U.S. currency market the previous day, the July ADP employment report showed an increase of 44,000 from the previous month, falling short of market expectations of a 70,000 increase and the previously revised figure of a 95,000 increase.Meanwhile, the U.S. July ISM Non-Manufacturing Purchasing Managers’ Index rose slightly to 54.1 from the previous reading of 54.0.While the Purchasing Prices Index rose to 70.3, the Employment Index fell to 47.4, leaving the U.S. dollar lacking direction. The USD/JPY pair traded within a range of 157.31 to 157.87 yen, closing the previous day near 157.76 yen. The previous day’s trading range was approximately 56 sen.During today’s Asian trading session, the pair has been trading around 157.70 yen, with resistance likely around 158.00 yen and support likely in the 157.30–157.50 yen range.

European currencies rose after the revised UK July services Purchasing Managers’ Index (PMI) came in at 52.1, an upward revision from the preliminary reading of 51.8.Rising above the 50-point threshold—which marks the boundary between expansion and contraction—from June’s 48.8, and amid improvements in new orders and business outlooks, the pound rose slightly against the U.S. dollar.The GBP/USD pair traded within a range of $1.3444 to $1.3486 and closed near $1.3468. The previous day’s trading range was approximately 42 pips.During today’s Asian trading session, the pair is trading in the $1.3460 range, with resistance expected around $1.3490–$1.3500 and support around $1.3440–$1.3450.

Today’s economic indicators include Germany’s June manufacturing new orders at 3:00 p.m., the UK’s July construction Purchasing Managers’ Index (PMI) at 5:30 p.m., and the Eurozone’s June retail sales at 6:00 p.m.At 21:30, U.S. initial jobless claims and continuing claims, as well as preliminary figures for nonfarm labor productivity and unit labor costs for the April–June quarter, are scheduled for release.Initial jobless claims are expected to come in at 205,000, while nonfarm labor productivity is forecast to rise 0.6% on an annualized basis from the previous quarter, and unit labor costs are projected to increase 2.1% on an annualized basis from the previous quarter. With the U.S. employment report due the following day, we will be watching to see how these employment-related indicators and labor costs influence the direction of the U.S. dollar.