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EURO-YEN TECHS: Bearish pressure returns:
*RES 4: 120.59 100-dma
*RES 3: 120.71 High Aug 1
*RES 2: 120.01 High Sep 13 and the bull trigger
*RES 1: 119.39 Channel resistance drawn off Apr 17 high
*PRICE: 118.31 @ 08:22 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
*SUP 4: 116.13 Low Sep 4
EURJPY reversed lower early Monday on poor Eurozone PMI numbers. 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.