USD/JPY: Break below 114.80 to put 114.00 back in focus – OCBC

USD/JPY continues to move sideways near 115.00. Economists at OCBC Bank expect the pair to target the 114.00 level on a break under the 114.80 support.

Headline driven

“Note that the implied valuations are climbing towards spot, a sign that the yield differentials are having a greater impact than risk dynamics.”

“Immediate support at 114.80, with a breach putting the 114.00/20 zone in sight.”