The USDJPY bearish momentum was stopped last week. Volatility remains low and 79.52/35 key support area still hold so far. There are no changes in my technical outlook and 79.52/35 region remains a good place to buy with stop loss below 79.35. Immediate support is seen around 79.70. A clear break below that area could trigger further bearish pressure retesting 79.52/35. Immediate resistance is seen around 80.23. A clear break and daily close above that area could trigger further bullish pressure testing 81.00 81.80.
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Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009