Commodity Prices

Gold •624 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,961.00	+17.30	+0.89%
WTI Crude •11 mins	93.97	-1.58	-1.65%
Gasoline •13 mins	3.100	-0.027	-0.86%
Ethanol •624 days	2.161	+0.000	+0.00%
Silver •624 days	30.82	+1.16	+3.92%

Silver • 624 days	30.82	+1.16	+3.92%
Copper • 624 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	108.65	+1.27	+1.18%
Natural Gas • 13 mins	3.118	-0.048	-1.52%
Heating Oil • 14 mins	4.335	-0.007	-0.17%

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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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