Forex technical analysis: USDJPY rebounds after better US data

US stocks to come
The USDJPY tumbled in trading yesterday with sharp declines in US stocks and bond yields  helping to weaken the USD and send flows into the "relative safety of the JPY" pairs (including the USDJPY).  The range was about 238 pips – well above the 22 day average of 94 pips. The pair lost close to 2% on the day.