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EURO-YEN TECHS: Contemplating next move:
*RES 4: 120.71 High Aug 1
*RES 3: 120.48 100-dma
*RES 2: 120.01 High Sep 13 and the bull trigger
*RES 1: 119.26 Channel resistance drawn off Apr 17 high
*PRICE: 117.78 @ 08:26 GMT Sep 26
*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 remains softer this week. A failure to clear bear channel resistance
drawn off the Apr 17 high last week continues to weigh on sentiment. The recent
sell-off brings into focus the support at 117.56, Sep 12 low. A break would
signal potential for a deeper move lower towards the Sep 3 low of 115.87, the
next key support. On the upside, a break of channel resistance, at 119.26 today
and of resistance at 120.01 is required to confirm a reversal.