(M9) Hovering Above 100-DMA *RES 3:.......>

JGB TECHS: (M9) Hovering Above 100-DMA

*RES 3: 153.34 - Mar28 High

*RES 2: 152.94 - 38.2% 153.34 - 152.70

*RES 1: 152.79 - 50-DMA

*PRICE: 152.59 @ 15:54 BST, Apr 23

*SUP 1: 152.33 - 6 March Low

*SUP 2: 152.03 - 3% Lower Bollinger Band

*SUP 3: 151.97 - 38.2% 149.75 - 153.34

JGBs continued to trade with low volatility, but the short-term momentum appears

to remain (just) with the bulls as markets continue to hover above the 100-dma,

which becomes the first target for bears. To the upside, bulls need to reclaim

the 50-dma at 152.79 to gain a stronger foothold as bears look to take out last

week's lows at 152.32 before the 3% lower Bollinger Band at 152.04, which would

indicate a more solid bearish breakout. BoJ's quarterly outlook report due this

week provides the next catalyst.