The USD/JPY pair went back and forth during the session on Friday, essentially going nowhere. With that being the case, we are still below the 120 level, if we can get above there we think that the buyers would step in and take control yet again. It doesn’t matter though, we have no interest in selling this pair regardless because of the fact that it has been so bullish for so long. The US dollar should continue to strengthen overall, while the Bank of Japan should continue to work against the value the Yen. We are buyers of pullbacks.