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

EURO-YEN TECHS: Channel top still the key hurdle:

*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: 118.80 @ 15:49 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

EURJPY continues to stall at the bear channel resistance, at 119.52 today. To

confirm the next leg higher and 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 technical development, clearing the

channel top and confirming a trend reversal. This would also confirm a pennant

formation, a continuation pattern that has developed recently. 118.69 is

support.