TOKYO, Jan 7 (Reuters) - Japanese government bond yields rose on Friday, lifted by a surge in Treasury yields overnight as traders braced for earlier-than-expected Federal Reserve policy tightening. The 10-year JGB yield rose 1.5 basis points to 0.130%, while benchmark 10-year JGB futures fell 0.15 point to 150.97, with a trading volume of 27,049 lots. The 20-year JGB yield rose 1.5 basis points to 0.520%, the two-year yield rose 0.5 basis point to minus 0.080%, and the five-year yield rose 1 basis point to minus 0.045%. The 30-year JGB yield was flat at 0.710%, with prices supported by strong demand at an auction of the securities earlier in the day. With U.S. yields climbing and the U.S. payrolls report due later on Friday, coming before a three-day weekend in Japan, "there is some desire to buy JGBs on dips, but the overarching mood in the market is for a wait-and-see approach," said Makoto Suzuki, senior strategist at Okasan Securities. U.S. non-farm payrolls due later in the day could strengthen Fed officials" resolve for an early and speedy pace of monetary policy normalisation. Treasury yields have surged to multi-month highs amid growing expectations that the Fed will hike rates as early as March on the path to three quarter-point increases this year.