USD/JPY is steady above 146.00 as early Tokyo opens following Friday's wild ride

<p>The yen is on the weak side again with USD/JPY sitting above 146.00 as I update.</p><p>The long story short on USD/JPY is that </p><ul><li>higher US yields (with a gap between US 2- and Japanese 2-year yields not far from 500bps)</li><li>the view that the Federal Open Market Committee (FOMC) will be higher for longer</li><li>and that the Bank of Japan is showing no signs of an imminent change in super-easy monetary policy</li></ul><p>remains supportive for the pair. </p><p>The latest from the US is that Fridays' jobs report is suggestive of an economy heading for a soft landing:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-us-unemployment-rate-jumps-20230901/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: US unemployment rate jumps</a></li></ul><p>As a reminder, if you are keen to short USD/JPY:</p><p>Funny signs aside, if you are nimble being short is tradeable. </p>

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