Commodity Prices

Gold •487 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,569.30	-6.10	-0.39%
WTI Crude •11 mins	61.26	+0.28	+0.46%
Gasoline •12 mins	1.907	+0.006	+0.33%
Ethanol •487 days	2.161	+0.000	+0.00%
Silver •487 days	30.82	+1.16	+3.92%

Silver • 487 days	30.82	+1.16	+3.92%
Copper • 487 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.07	+0.30	+0.46%
Natural Gas • 11 mins	4.098	-0.026	-0.63%
Heating Oil • 13 mins	2.416	+0.017	+0.71%

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EUR/JPY: Breaking Out at 85.53

By - Dec 28, 2012, 5:23 AM CST

USD/JPY has broken its strong resistance at 85.53 (06/04/2011 high). Another resistance is at 89.16 (12/07/2010 high). Hourly supports can be found at 85.48 (27/12/2012 low) and 84.60 (25/12/2012 low).

USD/JPY is likely in a long-term bottoming process. The break of the strong resistance at 85.53 (06/04/2011 high) opens the way for further long-term strength towards the key resistance at 94.99 (04/05/2010 high). However, the general overbought conditions suggest that more attractive entry points are likely to present themselves in the future.

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