Commodity Prices

Gold •134 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	942.80	-0.70	-0.07%
WTI Crude •10 mins	68.23	-0.20	-0.29%
Gasoline •10 mins	1.969	+0.004	+0.21%
Ethanol •134 days	2.161	+0.000	+0.00%
Silver •134 days	30.82	+1.16	+3.92%

Silver • 134 days	30.82	+1.16	+3.92%
Copper • 134 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	72.07	-0.21	-0.29%
Natural Gas • 10 mins	2.823	-0.160	-5.36%
Heating Oil • 10 mins	2.203	-0.016	-0.73%

Headlines

518 days Will The ECB Continue To Hike Rates?
518 days Forbes: Aramco Remains Largest Company In The Middle East
520 days Caltech Scientists Succesfully Beam Back Solar Power From Space
920 days Could Crypto Overtake Traditional Investment?
925 days Americans Still Quitting Jobs At Record Pace
927 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
930 days Is The Dollar Too Strong?
930 days Big Tech Disappoints Investors on Earnings Calls
931 days Fear And Celebration On Twitter as Musk Takes The Reins
933 days China Is Quietly Trying To Distance Itself From Russia
933 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
937 days Crypto Investors Won Big In 2021
937 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
938 days Food Prices Are Skyrocketing As Putin’s War Persists
940 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
941 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
944 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
945 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
945 days Two ETFs That Could Hedge Against Extreme Market Volatility
947 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

USD/JPY: The Support at 87.60 Has Been Broken

By - Jan 08, 2013, 6:05 AM CST

USD/JPY's overextended rise has broken its hourly support at 87.60 (see also rising channel) after failing to make a new high. The hourly double-top calls for a decline towards 86.79. A support can be found at 86.53 (01/01/2013 low). An hourly resistance is at 87.96 (intraday high).

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 call for caution in the short-term.

Daily Technical Report