Commodity Prices

Gold •383 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,483.00	-12.70	-0.85%
WTI Crude •34 mins	66.48	-0.72	-1.07%
Gasoline •10 mins	2.109	-0.023	-1.07%
Ethanol •383 days	2.161	+0.000	+0.00%
Silver •383 days	30.82	+1.16	+3.92%

Silver • 383 days	30.82	+1.16	+3.92%
Copper • 383 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	68.60	-0.61	-0.88%
Natural Gas • 10 mins	3.252	-0.073	-2.20%
Heating Oil • 11 mins	2.450	-0.059	-2.34%

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USD/JPY: A Test of The Recent Highs is Favoured

By - Jan 10, 2014, 5:44 AM CST

USD/JPY has bounced near the key support at 103.77 (see also the short-term rising channel). A test of the resistance at 105.44 (02/01/2014 high) is now expected. An initial support lies at 104.58 (09/01/2014 low).

The move above the key resistance at 103.74 favours a continuation of the longer term bullish trend. Monitor the resistance at 105.50 (61.8% retracement of the decline that started in June 2007). A major resistance stands at 110.66 (15/08/2008 high). A significant support now lies at 99.57 (19/11/2013 low, see also the 200 day moving average).

Daily Technical Report