Channel base holding, for now :......>

EURO-YEN TECHS: Channel base holding, for now :

*RES 4: 123.00 Round number resistance

*RES 3: 122.54 High Jul 2

*RES 2: 122.32 High Jul 10

*RES 1: 121.77 200-hma

*PRICE: 121.38 @ 15:40 GMT Jul 17

*SUP 1: 121.17/10 Channel base drawn off the Jun 3 low / Low Jul 16

*SUP 2: 120.95 Low Jun 21

*SUP 3: 120.78 Low Jun 3 and major support

*SUP 4: 120.52 1% Lower 10-dma envelope

EURJPY probed the channel base drawn off the Jun 3 low. To confirm a channel

breakout, a move below 121.10 and a close below the channel base at 121.17 is

required. This would further reinforce the outright bearish tone, opening 120.95

and the major support at 120.78, the low of Jun 3. From a bullish perspective,

the channel base is an important support. If it holds and the cross recovers,

the focus would shift to 122.32. The 200-hma is resistance at 121.77.