Commodity Prices

Gold •142 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	973.70	+3.20	+0.33%
WTI Crude •10 mins	71.27	+1.17	+1.67%
Gasoline •10 mins	2.071	+0.012	+0.57%
Ethanol •142 days	2.161	+0.000	+0.00%
Silver •142 days	30.82	+1.16	+3.92%

Silver • 142 days	30.82	+1.16	+3.92%
Copper • 142 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	75.24	+1.01	+1.36%
Natural Gas • 10 mins	3.096	-0.243	-7.28%
Heating Oil • 10 mins	2.281	+0.007	+0.31%

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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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