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USD/JPY again unable to hold rebound towards 156.50

Yesterday the USD/JPY fell back from a high at 156.44 after the latest US data seemed to push it back towards 156.50 again. The price action that followed saw the dollar fall back steadily into the US close, where it later ended the session at 155.61. That failure ahead of 156.50 matched a similar failure the day before. That move also came as US yields continued to edge lower. The price action so far today seems caught between that dynamic and trepidation over the latest US jobs report. That is because, if anything US yields are actually a little higher this morning, but that has not pushed the USD/JPY higher at this stage. The range seen so far today has been covered by 155.47 to 155.94. The USD/JPY is currently trading at 155.50 

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