Japanese Yen Fails to Sustain Above 114, Likely to Consolidate Below 114.87 Levels

  • Pair is currently trading at 113.26 levels.
  • It made intraday high at 113.98 and low at 113.23 levels.
  • Intraday bias remains bearish for the moment.
  • A daily close above 114.87 is required to turn the bias bullish again.
  • Alternatively, current downfall will take the parity below 111.92 and 110.98 levels thereafter.

We prefer to take short position in USD/JPY around 113.50, stop loss 114.87 and target 111.90 levels.

The material has been provided by InstaForex Company – www.instaforex.com