Commodity Prices

Gold •14 mins	2,397.20	-0.80	-0.03%
Platinum •14 mins	942.90	-11.60	-1.22%
WTI Crude •10 mins	82.35	-0.38	-0.46%
Gasoline •12 mins	2.694	-0.020	-0.73%
Ethanol •13 hours	2.161	+0.000	+0.00%
Silver •14 mins	28.36	-0.03	-0.09%

Silver • 14 mins	28.36	-0.03	-0.09%
Copper • 14 mins	4.471	+0.035	+0.78%
Brent Crude • 10 mins	86.69	-0.42	-0.48%
Natural Gas • 10 mins	1.744	-0.013	-0.74%
Heating Oil • 10 mins	2.531	-0.003	-0.10%

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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).

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