USD/JPY, after weak U.S. jobs data, temporarily in the mid-to-upper 146 yen range.

【3/7Market overview

In Tokyo time, the USD/JPY pair saw a rebound in the morning up to148.16yen, but fell to147.41yen on expectations of an early BOJ rate hike, a drop in the Nikkei, and the US10year Treasury yield with after-hours trading147.20yen; in European trading, USD/JPY declined to147.85yen, then drifted higher as reports suggested that the BOJ is likely to maintain policy at this month’s Policy Meeting.NYtime,2month US employment data showed NFP (Non-Farm Payrolls) rising by16.0thousand vs. expected, while unemployment rate was4.0% vs. 4.1% expected, a weak result, but immediately after the release the dollar/yen rose15.1to4.0% and then4.1% and weakened, hitting about147.97yen, marking the strongest push after the release, but then slowed and fell to146.94yen, the weakest since Oct 4 of last year, about10/4months ago. After selling pressure subsided, U.S. equities turned higher, and as dollar/yen rose again, it reached5months low; as U.S. stocks began to retreat again, USD/JPY fell to147.74yen. When U.S. stocks rose again in the afternoon, supported by rising10year yields, dollar/yen climbed to148.20yen.NYtime,8I think there is a mismatch here

【3/10Market view