Commodity Prices

Gold •14 mins	2,329.10	-9.30	-0.40%
Platinum •14 mins	911.10	-4.70	-0.51%
WTI Crude •10 mins	82.93	+0.12	+0.14%
Gasoline •49 mins	2.745	+0.011	+0.39%
Ethanol •8 hours	2.161	+0.000	+0.00%
Silver •14 mins	27.17	-0.18	-0.66%

Silver • 14 mins	27.17	-0.18	-0.66%
Copper • 14 mins	4.484	-0.003	-0.07%
Brent Crude • 10 mins	88.18	+0.16	+0.18%
Natural Gas • 10 mins	1.644	-0.009	-0.54%
Heating Oil • 24 mins	2.558	+0.008	+0.30%

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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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