Commodity Prices

Gold •517 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,649.70	-0.50	-0.03%
WTI Crude •11 mins	59.44	+0.80	+1.36%
Gasoline •11 mins	1.849	+0.018	+1.00%
Ethanol •517 days	2.161	+0.000	+0.00%
Silver •517 days	30.82	+1.16	+3.92%

Silver • 517 days	30.82	+1.16	+3.92%
Copper • 517 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	63.18	+0.73	+1.17%
Natural Gas • 11 mins	4.945	+0.105	+2.17%
Heating Oil • 11 mins	2.308	-0.004	-0.19%

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USD/JPY - Approaching The 120 Threshold

By - Dec 03, 2014, 4:58 AM CST

USD/JPY has broken to the upside out of its recent consolidation and is now close to the psychological resistance at 120.00. Hourly supports are given by the rising channel (around 118.30) and 117.87 (01/12/2014 low).

A long-term bullish bias is favoured as long as the key support 110.09 (01/10/2014 high) holds. The break of the major resistance at 110.66 (15/08/2008 high) opens the way for a further rise towards 120.00 (psychological threshold, see also the 61.8% retracement of the 1998-2011 decline). A major resistance stands at 124.14 (22/06/2007 high).

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