TECHNICAL ANALYSIS TEAM, LEHMAN BROTHERS

* EURO/DOLLAR: "The euro fails to sustain early gains over $0.8895, we need to close over here to trigger a larger rally. We remain bullish, look to buy into $0.8865/55. Next support, $0.8820. We will keep stops under the range low, $0.8735. A close over $0.8895 is a new bullish development, we will raise stops if that happens. Key resistance remains at $0.8960/90. Expect new selling here. A close above is required to confirm a new breakout, targets would be at the upper Bollinger band, $0.9200."
* DOLLAR/YEN: "Dollar/yen rallied off of a new weekly low on Thursday, 122.85, coming close to a bullish reversal (close over 124.03). We remain long, buy setbacks into 123.50. We will raise stops to 122.85. Key resistance is now at the top of the monthly range, 124.50/60. Bullish above, offering initial targets at 125.10 (weekly triangle top). Expect new selling here. A close above would be very significant, targets are at the top of the September channel and July high, 126.00/15. The yearly high is 126.85."
* DOLLAR/SWISS FRANC: "The Swiss franc recovered on Thursday, key resistance for the bear case remains at the November trendline, 1.6990. We maintain stops here. Key trend supports remain at the channel low, 1.6435/15. A close below is needed to confirm a bearish trend change, targets would be at the November low and 62 percent retracement of the September rally, 1.6130-1.6095. Over 1.6990 is bullish, next resistance, 1.6770."
* STERLING/DOLLAR: "Sterling fails to sustain early gains, but the technical view remains bullish, stay long / buy weakness into $1.4215/1.4180. We will raise stops to $1.4135. Initial resistance, $1.4285. Bullish above, targets remain at October channel top, $1.4415-1.4550."
* EURO/YEN: "Euro/yen broke out through the top of the Oct channel on Thursday, 109.85, increasing confidence in the long side, setting the stage for a larger rally into next week. Buy weakness into 109.15. We will raise stops to 108.70."