Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees bearish attempts in the pair to find support around 116.00/115.50. Key Quotes “USD/JPY remains under pressure following its recent failure ahead of the 78.6% Fibonacci retracement at 121.96, the current lunge lower should find some support circa 116.00/115.50”. “Intraday rallies are indicated to terminate 117.60/118.25. This guards the 121.70 recent high”. For more information, read our latest forex news.