Commodity Prices

Gold •20 mins	2,320.80	-17.60	-0.75%
Platinum •20 mins	909.30	-6.50	-0.71%
WTI Crude •10 mins	82.86	+0.05	+0.06%
Gasoline •11 mins	2.741	+0.007	+0.25%
Ethanol •6 hours	2.161	+0.000	+0.00%
Silver •20 mins	27.03	-0.32	-1.16%

Silver • 20 mins	27.03	-0.32	-1.16%
Copper • 20 mins	4.480	-0.007	-0.14%
Brent Crude • 10 mins	88.10	+0.08	+0.09%
Natural Gas • 10 mins	1.649	-0.004	-0.24%
Heating Oil • 11 mins	2.558	+0.008	+0.31%

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USD/JPY: Sliding

By - Jun 13, 2013, 5:53 AM CDT

USD/JPY has moved below its recent low at 94.99 (07/06/2013 low). The short-term technical configuration remains negative as long as prices remain below the resistance at 97.02 (12/06/2013 high). An initial resistance lies at 94.92 (intraday high). Supports can be found at 93.58 (38.2% retracement) and 92.57.

The medium-term overextended nature of this market calls for some caution. Even though it has not been confirmed by EUR/JPY and GBP/JPY, the move below the support at 95.80 is a medium-term bearish sign. We would however not be aggressively bearish given the short-term oversold conditions and the proximity of key supports in EUR/JPY and GBP/JPY.

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