Commodity Prices

Gold •15 mins	1,783.10	-22.40	-1.24%
Platinum •15 mins	970.80	+1.00	+0.10%
WTI Crude •7 hours	45.53	-0.18	-0.39%
Gasoline •7 hours	1.282	-0.006	-0.43%
Ethanol •7 hours	1.400	+0.030	+2.19%
Silver •15 mins	22.68	-0.68	-2.92%

Silver • 15 mins	22.68	-0.68	-2.92%
Copper • 15 mins	3.422	+0.092	+2.75%
Brent Crude • 4 hours	48.18	+0.38	+0.79%
Natural Gas • 7 hours	2.843	-0.118	-3.99%
Heating Oil • 7 hours	1.381	-0.006	-0.44%

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EUR/JPY - Pausing Above Former Resistance

By - Dec 14, 2016, 6:30 AM CST

EUR/JPY's bullish momentum is clearly on despite some bearish consolidation. The pair is trading above former resistance at 122.01 (23/06/2016 high). The road is nonetheless wide open for further increase. Hourly support lies at 122.11 (12/12/2016 low). Expected to go further higher but larger downside moves may happen again (profit taking).

In the longer term, the technical structure validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. The road is now wide open towards strong support at 94.12 (24/07/2012 low).

Daily Technical Report