Commodity Prices

Gold •667 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,997.80	+3.20	+0.16%
WTI Crude •11 mins	102.41	-2.66	-2.53%
Gasoline •11 mins	3.605	-0.010	-0.28%
Ethanol •667 days	2.161	+0.000	+0.00%
Silver •667 days	30.82	+1.16	+3.92%

Silver • 667 days	30.82	+1.16	+3.92%
Copper • 667 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	108.85	-1.55	-1.40%
Natural Gas • 11 mins	2.786	+0.019	+0.69%
Heating Oil • 11 mins	3.970	-0.111	-2.73%

Headlines

1,051 days Will The ECB Continue To Hike Rates?
1,052 days Forbes: Aramco Remains Largest Company In The Middle East
1,053 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,453 days Could Crypto Overtake Traditional Investment?
1,458 days Americans Still Quitting Jobs At Record Pace
1,460 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,463 days Is The Dollar Too Strong?
1,463 days Big Tech Disappoints Investors on Earnings Calls
1,464 days Fear And Celebration On Twitter as Musk Takes The Reins
1,466 days China Is Quietly Trying To Distance Itself From Russia
1,466 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,470 days Crypto Investors Won Big In 2021
1,470 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,471 days Food Prices Are Skyrocketing As Putin’s War Persists
1,473 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,474 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,477 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,478 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,478 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,480 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Is The Bull Market On Its Last Legs?

This aging bull market may…

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: Sharp Bearish Reversal

By - Feb 26, 2013, 4:51 AM CST

USD/JPY started yesterday by breaking the resistance at 94.46 (11/02/2013 high) but then declined sharply to finish below the support at 92.23 (15/02/2013 low). Hourly supports are at 90.88 (25/02/2013 low) and 90.33 (29/01/2013 low). Hourly resistances can be found at 92.75 (intraday high) and 93.28 (61.8% retracement of the current decline).

Yesterday's intraday bearish reversal has stopped our long strategy.

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) has almost been reached. Another key resistance can be found at 101.45 (06/04/2009 high).

Daily Technical Report