Commodity Prices

Gold •421 days	2,368.70	+35.30	+1.51%
Platinum •19 mins	1,361.40	-0.30	-0.02%
WTI Crude •10 mins	64.34	-0.26	-0.40%
Gasoline •7 hours	2.199	+0.050	+2.34%
Ethanol •421 days	2.161	+0.000	+0.00%
Silver •421 days	30.82	+1.16	+3.92%

Silver • 421 days	30.82	+1.16	+3.92%
Copper • 421 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	68.32	-0.30	-0.44%
Natural Gas • 10 mins	2.978	+0.034	+1.15%
Heating Oil • 8 hours	2.310	+0.015	+0.63%

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EUR/JPY: Bulls Clear 200-Day Moving Average

By - Feb 24, 2012, 6:22 AM CST

EUR/JPY has extended the powerful advance to settle comfortably above a downtrend line coming in from the July 2011 high and has now breached the 200 day moving average.

While we could see some corrective activity to unwind recent accelerated gains the structure continues to look positive with pullbacks looking limited to projected hourly channel support coming in around 104.30 then psychological 110.00.

Settlement back under 104.30 would warn of stalling upside momentum exposing 101.85 then 99.25, loss of which would expose 97.04 initially as medium-term bears gain control.

Daily Technical Report