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(H9) Price Action Turns Erratic *RES 3:...>

JGB TECHS
JGB TECHS: (H9) Price Action Turns Erratic
*RES 3: 154.01 - 28 July 2016
*RES 2: 152.89 - 76.4% 154.01-149.28
*RES 1: 152.84 - Intraday High
*PRICE: 152.47 @ 16:54 GMT, Dec 18
*SUP 1: 152.11 - 23.6% 149.75 - 152.84
*SUP 2: 151.00 - 50-DMA
*SUP 3: 150.63 - 100-DMA
Volatility surged in Asia-Pacific trade, largely a result of the BoJ
unexpectedly keeping buying operations unchanged, quickly followed by reports of
emergency margin calls, helping quell the earlier price spike. The somewhat
erratic price action does little to change the medium- and long-term view, which
continues to point higher. Further upside support may come from the 100-dma
breaking above the 200-dma. In the near-term, bulls look for a break above the
76.4% fib retracement level at 152.89 and fresh multi-year highs.

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