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EURO-YEN TECHS: Horizontal:
*RES 3: 120.48 100-dma
*RES 2: 120.01 High Sep 13 and the bull trigger
*RES 1: 119.32 Channel resistance drawn off Apr 17 high
*PRICE: 118.00 @ 15:41 GMT Sep 25
*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
EURJPY went nowhere fast Wednesday, but 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 bring 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 119.32 today and of resistance at 120.01 is required to see
bullish interest return.