USD/JPY rejects another attempt to reclaim 156 and falls towards 155 again

Yesterday the USD/JPY met resistance at 156 and as noted here, it seemed decent sized sellers capped the attempts to reclaim levels above 156. As then later noted, the USD/JPY found the opposite at the 155 handle and rejected a fall below that level. The low seen yesterday afternoon was set at 155.05. The earlier high was set at 155.98 and the dollar later rebounded off that low, to close in the US at 155.54. Earlier today a number of attempts to push back towards 156 failed and the dollar stalled at 155.79. It has since turned lower again and just now hit a session low at 155.06. So, as you can see, it is close to testing the low seen yesterday afternoon. The chance of fall below 155, certainly looks greater than a rise back above 156 right now. We shall see how this plays out from here.