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(M9) Gravitating to 50-dma Support *RES...>

JGB TECHS
JGB TECHS: (M9) Gravitating to 50-dma Support
*RES 3: 154.01 - 28 July 2016 High
*RES 2: 153.80 - 29 August 2016 High
*RES 1: 153.00 - Up trendline Resistance
*PRICE: 152.79 @ 15:31 GMT, Mar 18
*SUP 1: 152.70 - 50-DMA
*SUP 2: 152.41 - 6 March Low
*SUP 3: 151.99 - 100-DMA
Following the unchanged rate decision last week, reports circulated Monday that
several BoJ members are questioning the achievability of the bank's price level
targets, but even this failed to underpin JGB futures, which edged lower for
much of the Monday session. This keeps the wider technical picture unchanged for
now. Up trendline resistance at 153.00 remains the first target for bulls, who
need to recover above here to regain momentum that has petered out slightly over
the past fortnight. Any recovery above the mark opens 153.80 in the medium-term
and the 28 July 2016 high at 154.01.

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