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As a reminder Japan returns to market today....>

JGBS
JGBS: As a reminder Japan returns to market today following yesterday's Vernal
Equinox holiday.
- On the domestic front, market participants will likely focus on the results of
the BoJ's 5-25+ year Rinban op, while the market will also have to digest the
latest FOMC decision.
- For JGB futures the recovery from 200-DMA tests that defined last week is
struggling with follow through lacking above the 21-DMA. Bulls need a close
above 150.97 to confirm focus on layers of resistance 151.15-19. The contract is
looking a little heavy with the 21-DMA capping and hints at a correction
initially targeting 150.62-73 where key DMAs are clustered. Below 150.55 is
needed to target 150.36 and then 150.08-09 where 2018 and Oct lows are noted.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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