The market is overwhelmingly bullish on USD/JPY.

All the dips will be bought, at some point. But there will be periods of profit taking too and Friday’s are always a time when traders like to book a gain.

The pair has impressively bounced back from a flush to 114.66 and up to 115.11 because the details of the jobs report are solid but the upside might be capped as longs take profit near the 115.50 zone.