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- Pair is currently trading at 112.75 levels.
- It made intraday high at 113.22 and low at 112.56 levels.
- Pair fails to sustain above 113.00 levels and likely to consolidate below 115.26 marks.
- Intraday bias remains bearish for the moment.
- Alternatively, daily close below 110.98 levels will take the parity around key support at 106.19 levels.
- Later today US will publish GDP data, which will drive the parity to the either directions.
We prefer to take long position in USD/JPY around 112.60, stop loss 111.04 and target 114.26 levels.
