Commodity Prices

Gold •714 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,704.60	-88.30	-4.92%
WTI Crude •11 mins	75.45	-1.34	-1.75%
Gasoline •12 mins	2.912	+0.002	+0.08%
Ethanol •714 days	2.161	+0.000	+0.00%
Silver •714 days	30.82	+1.16	+3.92%

Silver • 714 days	30.82	+1.16	+3.92%
Copper • 714 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	78.61	-0.94	-1.18%
Natural Gas • 11 mins	3.168	+0.023	+0.73%
Heating Oil • 12 mins	3.114	-0.081	-2.52%

Headlines

1,099 days Will The ECB Continue To Hike Rates?
1,099 days Forbes: Aramco Remains Largest Company In The Middle East
1,101 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,501 days Could Crypto Overtake Traditional Investment?
1,506 days Americans Still Quitting Jobs At Record Pace
1,508 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,511 days Is The Dollar Too Strong?
1,511 days Big Tech Disappoints Investors on Earnings Calls
1,512 days Fear And Celebration On Twitter as Musk Takes The Reins
1,514 days China Is Quietly Trying To Distance Itself From Russia
1,514 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,518 days Crypto Investors Won Big In 2021
1,518 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,519 days Food Prices Are Skyrocketing As Putin’s War Persists
1,521 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,522 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,525 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,526 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,526 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,528 days Are NFTs About To Take Over Gaming?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

USD/JPY: Extreme Positioning Warns of a Pullback

By - Dec 31, 2013, 5:59 AM CST

USD/JPY has managed to print a sequence of nine rising weekly candles, with a tenth one still possible. We remain wary of further near-term gains, despite a longer-term upside bias. This view is driven by the extreme short Yen positioning now in place. As mentioned in yesterday's report we have longer term targets in the 109.00 - 110.00 region, but anticipate a pullback ahead of any such long-term move higher.

The move above the key resistance at 103.74 also favours a continuation of the longer term bullish trend. Another resistance can be found at 105.50 (61.8% retracement of the decline that started in June 2007). A key support now lies at 99.57 (19/11/2013 low, see also the 200 day moving average).

Daily Technical Report