USD/JPY easily punched through the 'psychological' level of 125 to start the week, off the back of the push higher in US yields. Economists at TD Securities expect the pair to advance towards 130 on a high US Consumer Price Inflation (CPI) print.

US CPI will exacerbate a move topside if it surprises to the upside

“Sights should continue to be set topside with 130 now coming into view.” 

“Today's US CPI will exacerbate a move topside if it surprises to the upside. That's likely to agitate terminal rate pricing further.”

See – US CPI Preview: Forecasts from 12 major banks, another lurch forward