Commodity Prices

Gold •624 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,977.40	+33.70	+1.73%
WTI Crude •11 mins	95.70	+0.15	+0.16%
Gasoline •12 mins	3.175	+0.048	+1.52%
Ethanol •624 days	2.161	+0.000	+0.00%
Silver •624 days	30.82	+1.16	+3.92%

Silver • 624 days	30.82	+1.16	+3.92%
Copper • 624 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	109.89	+1.24	+1.14%
Natural Gas • 11 mins	3.125	-0.041	-1.30%
Heating Oil • 11 mins	4.441	+0.099	+2.27%

Headlines

1,009 days Will The ECB Continue To Hike Rates?
1,009 days Forbes: Aramco Remains Largest Company In The Middle East
1,011 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,411 days Could Crypto Overtake Traditional Investment?
1,416 days Americans Still Quitting Jobs At Record Pace
1,417 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,421 days Is The Dollar Too Strong?
1,421 days Big Tech Disappoints Investors on Earnings Calls
1,422 days Fear And Celebration On Twitter as Musk Takes The Reins
1,423 days China Is Quietly Trying To Distance Itself From Russia
1,424 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,428 days Crypto Investors Won Big In 2021
1,428 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,429 days Food Prices Are Skyrocketing As Putin’s War Persists
1,431 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,431 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,435 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,436 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,436 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,438 days Are NFTs About To Take Over Gaming?

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Trader Compares Current Market Environment To 2007

It’s a mistake to view…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

USD/JPY: Extreme Positioning Warns of a Pullback

By - Dec 31, 2013, 5:59 AM CST

USD/JPY has managed to print a sequence of nine rising weekly candles, with a tenth one still possible. We remain wary of further near-term gains, despite a longer-term upside bias. This view is driven by the extreme short Yen positioning now in place. As mentioned in yesterday's report we have longer term targets in the 109.00 - 110.00 region, but anticipate a pullback ahead of any such long-term move higher.

The move above the key resistance at 103.74 also favours a continuation of the longer term bullish trend. Another resistance can be found at 105.50 (61.8% retracement of the decline that started in June 2007). A key support now lies at 99.57 (19/11/2013 low, see also the 200 day moving average).

Daily Technical Report