Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	977.80	-1.80	-0.18%
WTI Crude •10 mins	62.51	+0.24	+0.39%
Gasoline •13 mins	2.086	+0.003	+0.12%
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	66.37	+0.25	+0.38%
Natural Gas • 10 mins	3.000	-0.022	-0.73%
Heating Oil • 21 mins	2.131	+0.004	+0.18%

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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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