Commodity Prices

Gold •857 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,536.90	+14.50	+0.95%
WTI Crude •1 day	90.83	+0.31	+0.34%
Gasoline •1 day	2.777	+0.013	+0.48%
Ethanol •857 days	2.161	+0.000	+0.00%
Silver •857 days	30.82	+1.16	+3.92%

Silver • 857 days	30.82	+1.16	+3.92%
Copper • 857 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	98.32	+0.03	+0.03%
Natural Gas • 1 day	2.998	+0.051	+1.73%
Heating Oil • 1 day	4.332	-0.020	-0.46%

Headlines

1,242 days Will The ECB Continue To Hike Rates?
1,242 days Forbes: Aramco Remains Largest Company In The Middle East
1,244 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,644 days Could Crypto Overtake Traditional Investment?
1,649 days Americans Still Quitting Jobs At Record Pace
1,651 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,654 days Is The Dollar Too Strong?
1,654 days Big Tech Disappoints Investors on Earnings Calls
1,655 days Fear And Celebration On Twitter as Musk Takes The Reins
1,657 days China Is Quietly Trying To Distance Itself From Russia
1,657 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,661 days Crypto Investors Won Big In 2021
1,661 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,662 days Food Prices Are Skyrocketing As Putin’s War Persists
1,664 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,665 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,668 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,669 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,669 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,671 days Are NFTs About To Take Over Gaming?

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…

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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