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Focus Is Back On The Channel Top:....>

EURO-YEN TECHS
EURO-YEN TECHS: Focus Is Back On The Channel Top:
*RES 4: 120.01 High Sep 13 and the bull trigger
*RES 3: 119.38 High Sep 20
*RES 2: 118.67 Channel resistance drawn off Apr 17 high
*RES 1: 118.45 Intraday high
*PRICE: 118.37 @ 08:37 GMT Oct 10
*SUP 1: 117.08 Low Oct 3 and Oct 7
*SUP 2: 116.85 76.4% retracement Sep 3 - Sep 13 rally
*SUP 3: 116.13 Low Sep 4
*SUP 4: 115.87 Low Sep 3 and M/T bear trigger
EURJPY found support yesterday and has traded higher overnight in the Asia
session. The focus of attention returns to the key bear channel top that today
intersects at 118.61. The channel is drawn off the Apr 17 high. A breakout would
expose resistance at 120.01, Sep 13 high. Clearance of both these levels
confirms a reversal. On the downside, support lies at 117.08 where a break would
once again highlight the bearish threat and open 115.87.

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