USD/JPY: Breach of 114.00 to open up an approach to 115.50 – OCBC

USD/JPY is posting modest gains around 113.50. Economists at OCBC Bank think the removal of 114.00 will open up the 115.50 mark.

USD/JPY locked in within the 112.50 and 114.00 range in the near-term

“The USD/JPY is locked in within the 112.50 and 114.00 range in the near-term.”

“Omicron concerns have eased noticeably, and that should limit any downside expectations.”

“Any breach of the 114.00 range top will open up an approach to 115.50.”