LONDON, Sept 13 - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
CLAUDE MATTERN, TECHNICAL ANALYST, BNP PARIBAS, PARIS:
* EURO/DOLLAR: "Euro/dollar should oscillate between $0.9035 and $0.9150. Euro/dollar is sideways, below its previous peak at $0.92, on a wait and see position. The daily indicators are supportive, since the rebound from $0.8825. The hourly ones are rather neutral, oscillating around zero. Between $0.9035 and $0.9085 at first, we expect a rebound above the latter towards $0.9150."
* DOLLAR/YEN: "Dollar/yen should oscillate between 119.80 and 118.30. Dollar/yen is supported slightly above its previous trough at 118.50, a move below that level opens way for further downside impulse, signalling a bearish reversal. The daily indicators remain neutral, with bearish bias. The hourly ones are turning down. A return below 119, towards 118.50 or even 118.30 is expected, with 119.80 as a strong resistance."
* EURO/STERLING: "Euro/sterling should oscillate between 61.50 (pence) and 62.20...those two levels being break points. The daily indicators are rather supportive but they remain negative for now - Rate of Change (ROC) at -1.8 percent. The hourly ones are neutral, lightly supportive. Between 61.50 and 62.20, a rebound above the latter is expected later on."
* EURO/YEN: "Euro/yen should oscillate between 108.10 and 109.00. Euro/yen is moving sideways below the main technical level at 110.65, consolidating its rebound from 105.53. The market is in a wait and see position. The daily indicators are neutral, with the ROC around zero. The hourly indicators are lightly supportive but they are fragile. Short term support line is at 108.20/25 this morning. A break of it would lead the currency pair towards 108.00 or even down to 107.50. Between 107.50 and 108.70, we expect a rebound above 109.00 later on."