FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, discusses USD/JPY prospects.

“USD/JPY saw a fairly solid dive lower last week, but remained above the 2021 uptrend at 108.17 and while this holds we will continue to give the upside the benefit of the doubt. The 109.96 April 9 high remains the barrier to the 110.97 March high. Our medium term target is 112.23/50, which represents the April 2019 high, the 2020 high and a long term Fibonacci retracement.”