The USDJPY took another plunge to the downside. This one took the price from 144.3092 a low of 141.622. That took the price below its 200-day moving average 142.282. However, the price as quickly snapped back higher.Looking at the 5 minute chart below, the rotation back higher has taken the price above the 38.2 – 50% of the last trend leg to the downside. That may give the buyers some hope. The failure of the break below the 200-day moving average is also a small positive for a potential rebound. At the very least, traders may look to use that 200-day moving average at 142.28 as a profit-taking/risk defining level now that it has failed.The buyers would be more confident on a move back abov
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