USDJPY Plunges 100 Pips Before Bouncing Back

The USD/JPY currency pair experienced a sudden drop in value before recovering slightly. The dollar's early gains eased up as European trading began, causing the pair to fall from 163.70 to around 162.28.

This sharp decline was likely due to triggered stops and market jitters following the break below recent lows around 163.30. The hourly chart showed a push below the 200-hour moving average, which could be a key consideration in triggering further stops.