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.