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

EURO-YEN TECHS: Stalls again at the channel:

*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: 119.47 @ 08:41 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

EURJPY continues to stall at the bear channel resistance at 119.58 today, with

the cross trading lower in Asia. To confirm the next leg higher and a resumption

of this month's up-trend, a clear channel breakout is required. The focus is on

Friday's 120.01 high, the short-term bull trigger. A break would represent a key

technical development, clearing the channel top and confirming a trend reversal.

The overnight pullback is likely a correction, support lies at Monday's 118.69

low.