FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the target remains at the 118.33 level. Key Quotes “USD/JPY is side-lined but also under pressure in a 118.60- 121.76 range”. “For now we will continue to target the 118.33 March low en route to the 2012-2015 116.87 uptrend”. “We look for this to hold the downside and provoke longer term recovery”. For more information, read our latest forex news.