Commodity Prices

Gold •852 days	2,368.70	+35.30	+1.51%
Platinum •19 mins	1,441.90	-12.50	-0.86%
WTI Crude •11 mins	96.78	+0.32	+0.33%
Gasoline •13 mins	2.910	+0.009	+0.32%
Ethanol •852 days	2.161	+0.000	+0.00%
Silver •852 days	30.82	+1.16	+3.92%

Silver • 852 days	30.82	+1.16	+3.92%
Copper • 852 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	104.90	+0.13	+0.12%
Natural Gas • 11 mins	2.880	+0.024	+0.84%
Heating Oil • 15 mins	4.433	+0.011	+0.26%

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USD/JPY - Short-Term Rebound Underway

By - Apr 08, 2016, 5:44 AM CDT

USD/JPY is likely in a short-term rebound following bearish break of key support. The pair has exited its short-term downtrend channel indicating further downside risk. Hourly support can be located at 107.68 (07/04/2016 low). Hourly resistance is given at 109.88 (07/04/2016 high) while strong resistance is given at 113.80 (29/03/2016 high). Expected to further weaken.

We favour a long-term bearish bias. Support at 105.23 (15/10/2014 low) is on target. A gradual rise towards the major resistance at 135.15 (01/02/2002 high) seems now less likely. Another key support can be found at 105.23 (15/10/2014 low).

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