FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, reiterated the bullish stance on the pair while above the 118.11 level. Key Quotes “USD/JPY last week saw some minor near term weakness (this is expected to remain relatively shallow)”. “Dips lower should ideally terminate circa 122.08/121.70. The accelerated uptrend lies at 122.08 ahead of the 3 month support line at 119.17”. “Key support remains 118.11 the 2012-2015 uptrend, while above here we are bullish”. For more information, read our latest forex news.