Commodity Prices

Gold •698 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,934.80	+6.40	+0.33%
WTI Crude •11 mins	91.72	-0.44	-0.48%
Gasoline •12 mins	3.066	-0.018	-0.59%
Ethanol •698 days	2.161	+0.000	+0.00%
Silver •698 days	30.82	+1.16	+3.92%

Silver • 698 days	30.82	+1.16	+3.92%
Copper • 698 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	94.58	-0.40	-0.42%
Natural Gas • 11 mins	3.193	+0.014	+0.44%
Heating Oil • 11 mins	3.613	-0.027	-0.73%

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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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