FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could find strong support in the 117.00 neighbourhood. Key Quotes “USD/JPY has reacted sharply lower from the 78.6% Fibonacci retracement at 121.96, the current lunge lower should attempt to stabilise circa 117.20/00 this guards 116.50/116.00”. “Intraday rallies are indicated to terminate 118.60/119.10. This guards the 121.70 recent high”. For more information, read our latest forex news.