Bearish pressure persists: *RES 3:...>

EURO-YEN TECHS: Bearish pressure persists:

*RES 3: 120.54 100-dma

*RES 2: 120.01 High Sep 13 and the bull trigger

*RES 1: 119.39 Channel resistance drawn off Apr 17 high

*PRICE: 118.00 @ 15:57 GMT Sep 24

*SUP 1: 117.76 Low Sep 23

*SUP 2: 117.56 Low Sep 12 and key near-term support

*SUP 3: 117.28 Low Sep 5

EURJPY reversed lower early Monday, a trend which extended well into the Tuesday

session. A failure to clear bear channel resistance drawn off the Apr 17 high

last week appears to be weighing on sentiment. The recent sell-off bring into

focus the support at 117.56, Sep 12 low. A break would signal potential for a

move towards the Sep 3 low of 115.87, the next key support. A break of channel

resistance, at 119.39 and of resistance at 120.01 is required to see bullish

interest return.