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Channel top still the key hurdle:....>

EURO-YEN TECHS: Channel top still the key hurdle:
*RES 4: 121.38 High Jul 25 and Jul 30
*RES 3: 120.66 100-dma
*RES 2: 120.71 High Aug 1
*RES 1: 119.52/120.01 Channel resistance drawn off Apr 17 high / High Sep 13
*PRICE: 119.27 @ 04:54 GMT Sep 20
*SUP 1: 118.69 Low Sep 16
*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 continues to stall at bear channel resistance, at 119.52 today. To
confirm the next leg higher & a resumption of this month's up-trend, a clear
channel breakout is required. The focus is the high of Sep 13 at 120.01, the
bull trigger. A break would represent a key tech development, clearing the
channel top & confirming a trend reversal. This would also confirm a pennant
formation, a continuation pattern developed recently. 118.69 is support.

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