(M9) 50-dma First to Fall, 100-dma Next...>

JGB TECHS: (M9) 50-dma First to Fall, 100-dma Next Up

*RES 3: 153.34 - Mar28 High

*RES 2: 152.94 - 38.2% 153.34 - 152.70

*RES 1: 152.81 - 50-DMA

*PRICE: 152.46 @ 16:48 BST, Apr 16

*SUP 1: 152.45 - 100-DMA

*SUP 2: 152.33 - 6 March Low

*SUP 3: 151.97 - 38.2% 149.75 - 153.34

With markets now resolutely holding below the 50-dma, Fib support at the 152.57

was shrugged off to open a move on the 152.45 100-dma. A break below this mark

will cement the near-term outlook as negative. There's still a fair bit of

downside to go before JGBs begin to flash oversold on an RSI basis, suggesting

this move could have some legs. A recovery above 152.81 is needed to stem the

flow, before bulls can begin to reconsider recent cycle highs at 153.34.