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Free Access(H18) Pressure on 21 & 200-DMAs *RES.....>
JGB TECHS: (H18) Pressure on 21 & 200-DMAs
*RES 4: 150.77 - 55-DMA
*RES 3: 150.63 - 200-DMA
*RES 2: 150.57 - 21-DMA
*RES 1: 150.56 - High Jan 15
*PRICE: 150.51 @ 2030GMT
*SUP 1: 150.48 - Hourly resistance Jan 23 now support
*SUP 2: 150.41 - High Jan 22 now support
*SUP 3: 150.25 - 2018 Low Jan 18
*SUP 4: 150.19 - Low Oct 23
*COMMENTARY: The lack of follow through on last week's 3mth lows has provided
the impetus for a correction that sees immediate pressure back on 21 & 55-DMAs.
Bulls now look for a close above the 200-DMA to end bearish hopes and shift
initial focus to 150.74-84 where 55 & 100-DMAs are noted. A close above 150.84
is needed to target 151.19-21. Bears now need a close below 150.41 to ease
pressure on resistance layers.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.