(H9) Normalcy Returns *RES 3: 154.01 -....>

JGB TECHS: (H9) Normalcy Returns

*RES 3: 154.01 - 28 July 2016

*RES 2: 152.89 - 76.4% 154.01-149.28

*RES 1: 152.84 - Dec19 High

*PRICE: 152.51 @ 16:16 GMT, Dec 20

*SUP 1: 152.11 - 23.6% 149.75 - 152.84

*SUP 2: 151.00 - 50-DMA

*SUP 3: 150.63 - 100-DMA

After a surge in volatility Wednesday courtesy of BoJ operations and reports of

emergency margin calls, a semblance of normalcy returned despite the Fed rate

decision. The somewhat erratic price action over the past few days does little

to change the medium- and long-term view, which continues to point higher, with

upside support possibly coming from the 100-dma breaking above the 200-dma in

the coming sessions. In the near-term, bulls look for a break above the 76.4%

fib retracement level at 152.89 and fresh multi-year highs. On the downside,

bears need to clear the 50-dma to return the outlook to anything near neutral.