USD/JPY traded above 149.00 early Monday

An early update for USD/JPY, which caught another substantial bid after the blockbuster US jobs report on Froday:

• Forexlive Americas FX news wrap: US jobs report is strong. USD, yields and stocks rise

I had an outlook from Standard Chartered to post, analysts there were looking for 149 … and here we are.

• had expected a range of 140 – 149 for the coming month

For the 6 – 12 month horizon ahead Stan Chart forecast a fall for USD/JPY to below 135. Analysts cite rate differentials as the driver. I can’t really see these as driving USD/JPY lower, US rates will remain well, well above Japanese rates over that time horizon (yeah, I know, famous last words but I have a high degree of confidence in saying this … it seems obvious).

USD/JPY update, backing off from 149 now:

This article was written by Eamonn Sheridan at www.forexlive.com.