FXStreet (Guatemala) - USD/JPY eroded the 6 week uptrend at 119.36 last week and headed straight back into the range. Key Quotes: "This suggests a reluctance to break down. However it has not done enough to negate the downside and for now we will continue to target the 118.33 March low enroute to the 2012-2015 116.62 uptrend. We look for this to hold the downside and provoke recovery. The market will find initial resistance at 120.41 and tough resistance at 121.76/79, the late August high and the 61.8% retracement. While capped here a negative bias remains entrenched." For more information, read our latest forex news.