Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

USDJPY Eyeing Key 100.00 Yen Level

The USDJPY, along with the other major yen pairs, has been pushing higher since hitting support last week and bouncing higher after a false-break of that support. Today, the market formed a pin bar setup and although there is near-term resistance coming in just over-head, we could see the market break higher and surpass 100.00 yen in the coming days. If the market doesn't break higher from today's pin bar, we would still be buyers on a price action buy signal from support if the market rotates lower. The yen pairs are where the action is at right now.

1366761937-clip-19kb