The USDJPY was indecisive last week but overall still able to maintain its bearish correction bias. There are no changes in my technical outlook and price is still in a bearish phase testing 80.23 79.52 support area. Immediate resistance remains around 81.80 and only a clear break and daily close back above that area could end the current bearish correction phase. On longer term outlook, I remain bullish expecting further bullish reversal scenario after hit the record low.
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Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009