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Stalls again at the channel: *RES....>

EURO-YEN TECHS
EURO-YEN TECHS: Stalls again at the channel:
*RES 4: 121.38 High Jul 25 and Jul 30
*RES 3: 120.76 100-dma
*RES 2: 120.71 High Aug 1
*RES 1: 119.58/120.01 Channel resistance drawn off Apr 17 high / High Sep 13
*PRICE: 119.07 @ 04:44 GMT Sep 19
*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 119.58 today, with the
cross easing in Asia. To confirm the next leg higher and a resumption of this
month's up-trend, a clear channel breakout is required. Focus on Friday's 120.01
high, the short-term bull trigger. Break would represent a key technical
development, clearing channel top and confirming a trend reversal. The overnight
pullback is likely a correction, support lies at Monday's 118.69 low.

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