Commodity Prices

Gold •15 mins	2,413.80	+15.80	+0.66%
Platinum •15 mins	943.80	-10.70	-1.12%
WTI Crude •18 hours	83.14	+0.41	+0.50%
Gasoline •18 hours	2.710	-0.003	-0.13%
Ethanol •17 hours	2.161	+0.000	+0.00%
Silver •15 mins	28.84	+0.46	+1.63%

Silver • 15 mins	28.84	+0.46	+1.63%
Copper • 15 mins	4.498	+0.061	+1.37%
Brent Crude • 17 hours	87.29	+0.18	+0.21%
Natural Gas • 18 hours	1.752	-0.005	-0.28%
Heating Oil • 18 hours	2.541	+0.007	+0.29%

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USD/JPY: Surging Higher

By - Apr 04, 2013, 5:09 AM CDT

USD/JPY has moved above its declining channel. The next resistances are given by 96.13 (20/03/2013 high) and 96.71 (12/03/2013 high). Hourly supports can be found at 94.91 (previous resistance) and 94.38 (previous resistance).

Even though the BoJ has not disappointed market expectations, the medium-term upside potential should be capped by the extreme short positioning in JPY.

USD/JPY has validated a long-term bullish trend reversal formation by breaking the strong resistance at 85.53 (06/04/2011 high). A move towards the key resistance at 101.45 (06/04/2009 high) is expected.

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