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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.