Commodity Prices

Gold •14 mins	2,394.60	-3.40	-0.14%
Platinum •14 mins	942.40	-12.10	-1.27%
WTI Crude •13 mins	82.35	-0.38	-0.46%
Gasoline •10 mins	2.696	-0.017	-0.64%
Ethanol •14 hours	2.161	+0.000	+0.00%
Silver •14 mins	28.35	-0.04	-0.12%

Silver • 14 mins	28.35	-0.04	-0.12%
Copper • 14 mins	4.473	+0.037	+0.82%
Brent Crude • 10 mins	86.63	-0.48	-0.55%
Natural Gas • 10 mins	1.751	-0.006	-0.34%
Heating Oil • 11 mins	2.526	-0.008	-0.32%

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USD/JPY: Sliding

By - Jun 13, 2013, 5:53 AM CDT

USD/JPY has moved below its recent low at 94.99 (07/06/2013 low). The short-term technical configuration remains negative as long as prices remain below the resistance at 97.02 (12/06/2013 high). An initial resistance lies at 94.92 (intraday high). Supports can be found at 93.58 (38.2% retracement) and 92.57.

The medium-term overextended nature of this market calls for some caution. Even though it has not been confirmed by EUR/JPY and GBP/JPY, the move below the support at 95.80 is a medium-term bearish sign. We would however not be aggressively bearish given the short-term oversold conditions and the proximity of key supports in EUR/JPY and GBP/JPY.

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