Commodity Prices

Gold •529 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,799.80	+37.30	+2.12%
WTI Crude •11 mins	57.12	-0.32	-0.56%
Gasoline •11 mins	1.744	-0.008	-0.48%
Ethanol •529 days	2.161	+0.000	+0.00%
Silver •529 days	30.82	+1.16	+3.92%

Silver • 529 days	30.82	+1.16	+3.92%
Copper • 529 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	60.82	-0.30	-0.49%
Natural Gas • 11 mins	4.090	-0.023	-0.56%
Heating Oil • 11 mins	2.191	-0.007	-0.31%

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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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