FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, reiterated the pair’s stance remains bullish above 118.86. Key Quotes “USD/JPY remains bid, the market is seeing decent recovery off the 122.20 support. The intraday Elliott wave counts are more positive and currently imply a move to 123.77 the recent high. Above here will target 125.00/28 (the August high)”. “The 3 month support line lies at 119.83. Key support remains 118.86 the 2012-2015 uptrend, while above here we are bullish”. For more information, read our latest forex news.