Commodity Prices

Gold •439 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,417.10	-0.10	-0.01%
WTI Crude •11 mins	63.32	+0.02	+0.03%
Gasoline •11 mins	2.016	+0.003	+0.14%
Ethanol •439 days	2.161	+0.000	+0.00%
Silver •439 days	30.82	+1.16	+3.92%

Silver • 439 days	30.82	+1.16	+3.92%
Copper • 439 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.40	-0.04	-0.06%
Natural Gas • 11 mins	3.049	+0.006	+0.20%
Heating Oil • 11 mins	2.345	+0.014	+0.59%

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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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