Commodity Prices

Gold •667 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,011.90	+17.30	+0.87%
WTI Crude •6 hours	101.94	-3.13	-2.98%
Gasoline •6 hours	3.595	-0.020	-0.55%
Ethanol •667 days	2.161	+0.000	+0.00%
Silver •667 days	30.82	+1.16	+3.92%

Silver • 667 days	30.82	+1.16	+3.92%
Copper • 667 days	4.530	+0.111	+2.51%
Brent Crude • 5 hours	108.17	-2.23	-2.02%
Natural Gas • 6 hours	2.780	+0.013	+0.47%
Heating Oil • 6 hours	3.946	-0.135	-3.30%

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USD/JPY Pullback Targets Key Level at 80.00

By - Apr 27, 2012, 6:07 AM CDT

USD/JPY's bearish pullback is capped beneath previous resistance/old support at 82.00. The move was originally triggered by a DeMark™ exhaustion signal that was activated in late February.

This has been followed by signs of strong psychological support near 80.00-80.12 (38.2% Fib retrace/Jan advance), 79.16 (61.8% Fib).

This may offer renewed buying opportunities in our model portfolio for USD/JPY's major long-term 40-year cycle upside reversal.

Only a decisive confirmation above 83.40 and 84.18 will extend the bullish recovery which had already risen almost 10% in only 7 weeks! The key medium-term upside trigger level can be found at 85.50.

Daily Technical Report