FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likeliness of the pair to test the 125.00/28 area once 123.75 is cleared. Key Quotes “USD/JPY continues to recover off the accelerated uptrend, which today is located at 122.44”. “The market is well placed to resume its up move and above 123.75 targets 125.00/28 (the August high)”. “While this may provoke some profit taking, we do favour a break above here to 127.90/93, which is the 61.8% retracement of the move down from the 1990 peak”. For more information, read our latest forex news.