USD/JPY seemingly pivotal around 158 for the time being

The USD/JPY rebounded yesterday following the much better than forecast US JOLTS and ISM data. However, despite coming close, that rebound did not deliver a new high for the USD/JPY. It stalled just short of the Asian high at 158.42. The dollar later closed in the US at 158.05. So, far today the dollar has not gotten close to testing at 158.42 level again. Yesterday the rebound was all due to higher US yields. The 10 year note touched 4.70% yesterday. It is right now at 4.673%. The range seen on the USD/JPY so far this morning has been covered by 157.91 to 158.27 and perhaps the dampener over the past 12 hours has come from the US President elect. We know he now wants Greenland and the Panama canal and he also wants lower US interest rates. Well, good luck on all three of those Mr President. So, right now the USD/JPY looks rather pivotal around that 158 handle and later today we get some important US data (ADP report) that could deliver a move either side of 157.50, or 158.50. Right now the USD/JPY is trading at 158.12