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Gold •10 mins	1,451.80	-5.30	-0.36%
Platinum •10 mins	881.90	+1.30	+0.15%
WTI Crude •11 mins	57.06	+0.20	+0.35%
Gasoline •11 mins	1.615	+0.005	+0.34%
Ethanol •27 mins	1.428	-0.017	-1.18%
Silver •10 mins	16.78	-0.02	-0.13%

Silver • 10 mins	16.78	-0.02	-0.13%
Copper • 10 mins	2.673	+0.009	+0.34%
Brent Crude • 11 mins	62.38	+0.20	+0.32%
Natural Gas • 11 mins	2.662	+0.025	+0.95%
Heating Oil • 11 mins	1.916	+0.002	+0.11%

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USD/JPY - Former Resistance Becomes New Support

By - Feb 23, 2017, 7:25 AM CST

USD/JPY's demand is fading after its increase from support given at 111.36 (28/11/2016 low). Bearish pressures arise around hourly resistance given at 115.62 (19/01/2016 high). The technical structure suggests further weakness around former resistance given at 112.57 (17/01/2017 low).

We favor a long-term bearish bias. Support is now given at 96.57 (10/08/2013 low). A gradual rise towards the major resistance at 135.15 (01/02/2002 high) seems absolutely unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

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