Commodity Prices

Gold •15 mins	2,295.60	-14.00	-0.61%
Platinum •15 mins	959.20	-3.40	-0.35%
WTI Crude •10 mins	78.54	-0.41	-0.52%
Gasoline •10 mins	2.570	-0.027	-1.03%
Ethanol •17 hours	2.161	+0.000	+0.00%
Silver •15 mins	26.46	-0.37	-1.38%

Silver • 15 mins	26.46	-0.37	-1.38%
Copper • 15 mins	4.525	+0.041	+0.90%
Brent Crude • 10 mins	83.36	-0.31	-0.37%
Natural Gas • 10 mins	2.045	+0.010	+0.49%
Heating Oil • 10 mins	2.437	-0.006	-0.24%

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USD/JPY: Continuing To Grind Higher

By - Feb 04, 2013, 5:32 AM CST

USD/JPY is making higher highs confirming the strong underlying uptrend. Now above the resistance at 92.89 (04/06/2010 high), a further swing higher to 94.99 (04/05/2010 high) is favoured. An hourly support is at 91.79 (intraday low). Another support can be found at 90.75 (31/01/2013 low).

We will keep our stop at 90.19 for now.

USD/JPY has validated a long-term bullish trend reversal formation by breaking the strong resistance at 85.53 (06/04/2011 high). The first long-term objective is the key resistance at 94.99 (04/05/2010 high). Another key resistance can be found at 101.45 (06/04/2009 high).

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