Commodity Prices

Gold •534 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,018.60	+57.70	+2.94%
WTI Crude •4 hours	56.52	+0.52	+0.93%
Gasoline •4 hours	1.708	+0.007	+0.41%
Ethanol •534 days	2.161	+0.000	+0.00%
Silver •534 days	30.82	+1.16	+3.92%

Silver • 534 days	30.82	+1.16	+3.92%
Copper • 534 days	4.530	+0.111	+2.51%
Brent Crude • 3 hours	60.47	+0.65	+1.09%
Natural Gas • 4 hours	3.984	+0.076	+1.94%
Heating Oil • 4 hours	2.122	-0.010	-0.46%

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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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