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Forex pairs in this Article » USD/JPY (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY has sold off the 102.05 38.2% Fibo.

Key Quotes

“Given that yesterdays rebound failed at the 38.2% retracement at 102.94 (of the sell off from 104.85) immediate pressure remains on the downside and we look for a slide back to 101.00 and possibly 100.00, the 50% and the 61.8% retracement of the move up from October.”

“Rallies will find additional resistance at 103.70 and the 20 day ma at 104.09.”
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