The U.S. dollar's decline to multi-week lows against the Japanese yen following Friday's shockingly weak U.S. jobs number represents just a temporary setback for the greenback, CNBC's latest poll of currency traders, analysts and strategists showed.
"Weaker payrolls will provide better entry levels to go long dollars," said Khoon Goh, Senior FX Strategist at ANZ.
Friday's U.S. jobs report for December took many currency traders by surprise. Data showed the creation of just 74,000 new jobs, well short of the 196,000 that analysts had expected, Reuters reported.
(Read more: Dollar bulls - Time to pack up and go home?)
Nearly 60 percent of CNBC poll respondents (17 out of 29) believe the U.S. dollar will recover this week after dipping to its lowest level in four weeks against the yen. The greenback fell to 102.86 yen on Monday, its weakest point against the yen since Dec. 18.
Prior to the December payrolls release, Standard Chartered's senior FX strategist Thomas Harr came closest to predicting the dollar's demise if the jobs number printed missed the 200,000 consensus. The dollar-yen may weaken to 103.50 or 103.00, Harr forecasted, while U.S. Treasurys would rally should payrolls fail to match expectations.