Tocom rubber price on the trade Tuesday morning (12/01) decline. Rubber futuresprices for the most active contract, namely June 2016 weakened currency caused theyen experienced a strengthening against the u.s. dollar.
This morning the currency tracked the Yen Japan experience increased 0.09% currently reside at 213.81 per u.s. dollar. The increase of the Yen encouraged the increasing surplus Japan runs him in November, as the surplus of 17 consecutive months.
The rise in the exchange rate of the yen makes Japan commodity prices traded in the currency is becoming relatively more expensive for buyers abroad. The impact of these commodities demand will decline.
The price of natural rubber on the Tocom to contract most active June contract i.e. for2016 this morning is in the position of 147.6 yen per kilogram. Rubber futures prices decreased by 1.9-yen compared with the previous closing trade positions at 149.5 yen per kilogram.
For the trading session today prices are expected to find support at position 143.00 yen. The next support is on 138.00 yen. While that price will meet resistance at position 153.00 158.00 yen and yen.
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