Commodity Prices

Gold •169 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	919.30	-4.20	-0.45%
WTI Crude •6 hours	69.91	-0.67	-0.95%
Gasoline •12 mins	1.911	-0.011	-0.59%
Ethanol •169 days	2.161	+0.000	+0.00%
Silver •169 days	30.82	+1.16	+3.92%

Silver • 169 days	30.82	+1.16	+3.92%
Copper • 169 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	72.53	-0.35	-0.48%
Natural Gas • 10 mins	3.627	+0.043	+1.20%
Heating Oil • 10 mins	2.227	-0.011	-0.49%

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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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