USD/JPY consolidates below 114.87, buy on dips

• Pair is currently supported bellow 114.0 marks and trading around 113.94 levels.
   
• It made intraday high at 114.26 and low at 113.41 levels.
   
• Near term trend remains neutral till the time pair holds key support levels at 110.98 marks.
   
• On the other side, daily close above 114.87 is required to confirm the bullish bias.
   
• Initial support levels are seen at 113.21, 112.15 and 110.98 levels.
   
• On the top side, key resistance levels falls at 114.26, 114.87 and 115.96 marks.

We prefer to stay long on USD/JPY around 113.50, stop loss 112.15 and target 115.96/ 117.52 levels.