FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, suggested the pair could re-visit the area of 121.76/122.04. Key Quotes “USD/JPY continues to range trade above its recent 120.00 low and remains well placed to tackle tough resistance at 121.76/122.04 offered by the late August 2015 high, December 2014 high, March 2015 high and the 61.8% retracement”. “This remains the key break up point to 123.33, the 78.6% retracement and 125.00/28 (the August high). It is solid resistance and it is likely to take several attempts to get through”. For more information, read our latest forex news.