Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	975.70	-3.90	-0.40%
WTI Crude •10 mins	62.34	+0.07	+0.11%
Gasoline •2 hours	2.082	-0.002	-0.09%
Ethanol •294 days	2.161	+0.000	+0.00%
Silver •294 days	30.82	+1.16	+3.92%

Silver • 294 days	30.82	+1.16	+3.92%
Copper • 294 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.20	+0.08	+0.12%
Natural Gas • 10 mins	2.988	-0.034	-1.13%
Heating Oil • 21 mins	2.126	-0.001	-0.05%

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USD/JPY: Surging Higher

By - Apr 04, 2013, 5:09 AM CDT

USD/JPY has moved above its declining channel. The next resistances are given by 96.13 (20/03/2013 high) and 96.71 (12/03/2013 high). Hourly supports can be found at 94.91 (previous resistance) and 94.38 (previous resistance).

Even though the BoJ has not disappointed market expectations, the medium-term upside potential should be capped by the extreme short positioning in JPY.

USD/JPY has validated a long-term bullish trend reversal formation by breaking the strong resistance at 85.53 (06/04/2011 high). A move towards the key resistance at 101.45 (06/04/2009 high) is expected.

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