LONDON, June 19 - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
TECHNICAL ANALYSIS TEAM, CAPITAL MANAGEMENT
* EURO/DOLLAR: "The euro is holding above the $0.8570 pivot in a bid to extend gains towards $0.8700/40. This would likely complete the first leg of the new uptrend. A direct loss of $0.8570 opens a decline to at least $0.8410 and possibly $0.8225 again."
* DOLLAR/YEN: "The rally from 118.40 yen is likely the first leg of an uptrend to new highs. However, short term look for the dollar to fade in the face of solid resistance at 124 for a reaction back to the 121.50/80 area. Directly through 124 opens a run at 126.00/50."